Nordea Investment Management AB Sells 40,771 Shares of NetEase, Inc. $NTES

Nordea Investment Management AB trimmed its stake in NetEase, Inc. (NASDAQ:NTES) by 12.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 278,437 shares of the technology company’s stock after selling 40,771 shares during the period. Nordea Investment Management AB’s holdings in NetEase were worth $42,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. NewSquare Capital LLC raised its stake in shares of NetEase by 137.2% during the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after acquiring an additional 107 shares in the last quarter. Private Trust Co. NA increased its holdings in NetEase by 266.0% during the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock worth $26,000 after purchasing an additional 141 shares during the period. USA Financial Formulas purchased a new position in NetEase during the 2nd quarter worth $30,000. Reyes Financial Architecture Inc. raised its position in NetEase by 1,189.5% during the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock valued at $33,000 after purchasing an additional 226 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of NetEase in the 2nd quarter worth $33,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

NASDAQ:NTES opened at $139.00 on Thursday. The company’s 50-day simple moving average is $139.21 and its 200-day simple moving average is $139.85. NetEase, Inc. has a fifty-two week low of $88.54 and a fifty-two week high of $159.55. The stock has a market capitalization of $88.07 billion, a P/E ratio of 17.75, a P/E/G ratio of 1.60 and a beta of 0.67.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, December 5th. NetEase’s payout ratio is currently 28.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and raised their price target for the company from $138.00 to $190.00 in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research report on Monday, December 22nd. Barclays set a $135.00 price target on shares of NetEase and gave the stock an “equal weight” rating in a research report on Friday, November 21st. Benchmark lifted their price objective on shares of NetEase from $145.00 to $158.00 and gave the company a “buy” rating in a report on Friday, November 21st. Finally, Sanford C. Bernstein set a $155.00 price objective on shares of NetEase in a research note on Friday, November 21st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $156.13.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.