Norges Bank Invests $715,000 in Youdao, Inc. (NYSE:DAO)

Norges Bank acquired a new stake in shares of Youdao, Inc. (NYSE:DAO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 96,600 shares of the company’s stock, valued at approximately $715,000.

Separately, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Youdao during the 4th quarter valued at about $554,000. Institutional investors and hedge funds own 21.91% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup downgraded shares of Youdao from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th.

Youdao Price Performance

NYSE:DAO opened at $6.80 on Friday. The firm has a market capitalization of $822.26 million, a price-to-earnings ratio of 68.00 and a beta of 0.32. The business has a fifty day moving average price of $8.50 and a 200-day moving average price of $6.95. Youdao, Inc. has a one year low of $2.86 and a one year high of $11.82.

Youdao (NYSE:DAO) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.10 EPS for the quarter. The firm had revenue of $183.55 million for the quarter. Youdao had a negative return on equity of 3.75% and a net margin of 1.50%.

Youdao Profile

Youdao, Inc, an internet technology company, provides online services in the field of content, community, communication, and commerce in China. It operates through three segments: Learning Services, Smart Devices, and Online Marketing Services. The company provides various learning content, applications, and solutions, which cover topics and target people from various age groups for their learning needs through its websites and mobile applications.