NN Investment Partners Holdings N.V. raised its position in NetEase, Inc. (NASDAQ:NTES) by 69.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,706 shares of the technology company’s stock after buying an additional 1,932 shares during the period. NN Investment Partners Holdings N.V.’s holdings in NetEase were worth $1,336,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. USA Financial Portformulas Corp increased its stake in NetEase by 308.1% in the fourth quarter. USA Financial Portformulas Corp now owns 29,359 shares of the technology company’s stock worth $6,322,000 after buying an additional 22,165 shares during the period. Cim LLC increased its stake in NetEase by 2.2% in the first quarter. Cim LLC now owns 3,601 shares of the technology company’s stock worth $1,023,000 after buying an additional 79 shares during the period. FMR LLC increased its stake in NetEase by 11.8% in the fourth quarter. FMR LLC now owns 500,780 shares of the technology company’s stock worth $107,838,000 after buying an additional 52,790 shares during the period. Fisher Asset Management LLC acquired a new stake in NetEase during the first quarter worth about $98,415,000. Finally, Wetherby Asset Management Inc. increased its stake in NetEase by 37.6% in the first quarter. Wetherby Asset Management Inc. now owns 1,380 shares of the technology company’s stock worth $392,000 after buying an additional 377 shares during the period. 54.57% of the stock is owned by hedge funds and other institutional investors.
Shares of NetEase, Inc. (NASDAQ NTES) traded up 1.47% during midday trading on Friday, reaching $296.97. The company’s stock had a trading volume of 1,023,500 shares. The stock has a 50 day moving average price of $286.52 and a 200-day moving average price of $265.74. The company has a market capitalization of $39.06 billion, a price-to-earnings ratio of 20.61 and a beta of 0.85. NetEase, Inc. has a 52-week low of $163.63 and a 52-week high of $323.10.
The company also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 26th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.45%. NetEase’s payout ratio is currently 25.09%.
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A number of equities analysts have weighed in on NTES shares. Jefferies Group LLC upped their price target on NetEase from $261.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Deutsche Bank AG set a $298.00 price target on NetEase and gave the stock a “buy” rating in a report on Thursday, February 16th. Standpoint Research restated a “buy” rating and issued a $340.00 price target (up previously from $295.00) on shares of NetEase in a report on Thursday, February 23rd. Vetr upgraded NetEase from a “hold” rating to a “buy” rating and set a $303.74 price target for the company in a report on Wednesday, March 8th. Finally, Instinet restated a “buy” rating and issued a $307.00 price target on shares of NetEase in a report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $295.84.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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