NetEase, Inc. $NTES is True Light Capital Pte. Ltd.’s 7th Largest Position

True Light Capital Pte. Ltd. increased its position in NetEase, Inc. (NASDAQ:NTES) by 79.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,754 shares of the technology company’s stock after buying an additional 21,552 shares during the period. NetEase comprises 2.8% of True Light Capital Pte. Ltd.’s portfolio, making the stock its 7th largest holding. True Light Capital Pte. Ltd.’s holdings in NetEase were worth $5,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after acquiring an additional 117 shares during the period. Strs Ohio acquired a new position in NetEase in the 1st quarter valued at $63,000. EverSource Wealth Advisors LLC lifted its stake in shares of NetEase by 106.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after purchasing an additional 280 shares during the period. First Trust Advisors LP lifted its stake in shares of NetEase by 287.4% during the 2nd quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after purchasing an additional 67,934 shares during the period. Finally, Walleye Capital LLC boosted its holdings in shares of NetEase by 670.9% during the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after purchasing an additional 4,582 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NTES. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research report on Thursday, June 18th. Morgan Stanley reiterated an “overweight” rating and set a $158.00 target price on shares of NetEase in a research report on Tuesday, May 26th. Zacks Research raised NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. The Goldman Sachs Group set a $169.00 price target on NetEase in a report on Wednesday, July 1st. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $158.38.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the sale, the general counsel owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 54.70% of the company’s stock.

NetEase Stock Down 2.3%

Shares of NTES opened at $128.39 on Wednesday. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55. The company’s fifty day moving average is $122.33 and its two-hundred day moving average is $122.48. The firm has a market cap of $81.97 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a $0.72 dividend. The ex-dividend date was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.2%. NetEase’s dividend payout ratio (DPR) is presently 38.11%.

NetEase Company Profile

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.