JOYY Inc. (NASDAQ:YY) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its position in JOYY Inc. (NASDAQ:YY - Free Report) by 42.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,966 shares of the information services provider's stock after selling 261,142 shares during the period. Point72 Asset Management L.P. owned approximately 0.63% of JOYY worth $12,973,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of YY. Loomis Sayles & Co. L P acquired a new position in JOYY during the third quarter worth about $25,000. Atlas Capital Advisors LLC purchased a new position in shares of JOYY during the 2nd quarter worth approximately $29,000. Blue Trust Inc. raised its position in shares of JOYY by 22,728.6% during the 2nd quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider's stock worth $49,000 after purchasing an additional 1,591 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in JOYY in the 2nd quarter valued at approximately $52,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in JOYY by 12.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider's stock valued at $79,000 after buying an additional 300 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Benchmark reissued a "hold" rating on shares of JOYY in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of JOYY from $30.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, September 3rd.

JOYY Price Performance

YY traded down $0.24 during trading on Friday, hitting $40.66. The company's stock had a trading volume of 350,086 shares, compared to its average volume of 415,090. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $42.76. The firm's 50 day moving average price is $35.63 and its 200-day moving average price is $33.92. The stock has a market cap of $2.19 billion, a PE ratio of 12.28 and a beta of 0.27.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.