Carrhae Capital LLP Purchases 237,410 Shares of NetEase, Inc. $NTES

Carrhae Capital LLP boosted its position in shares of NetEase, Inc. (NASDAQ:NTES) by 343.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 306,577 shares of the technology company’s stock after purchasing an additional 237,410 shares during the period. NetEase comprises about 1.1% of Carrhae Capital LLP’s investment portfolio, making the stock its 18th biggest position. Carrhae Capital LLP’s holdings in NetEase were worth $39,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in NetEase during the first quarter worth about $25,000. Atlas Capital Advisors Inc. bought a new position in shares of NetEase in the fourth quarter valued at approximately $47,000. Smartleaf Asset Management LLC boosted its holdings in shares of NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after acquiring an additional 372 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of NetEase by 7,480.0% in the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after acquiring an additional 374 shares in the last quarter. Finally, MidFirst Bank bought a new stake in NetEase during the 4th quarter worth approximately $57,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Performance

NTES traded up $0.16 during mid-day trading on Tuesday, reaching $119.45. The stock had a trading volume of 1,004,112 shares, compared to its average volume of 878,746. The firm’s fifty day simple moving average is $126.61 and its two-hundred day simple moving average is $120.50. The stock has a market capitalization of $76.48 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.38 and a beta of 0.72. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 3rd. NetEase’s dividend payout ratio is 26.31%.

Analyst Upgrades and Downgrades

NTES has been the subject of several research analyst reports. Nomura lifted their price objective on NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Sanford C. Bernstein restated an “outperform” rating and issued a $160.00 target price on shares of NetEase in a research note on Friday, August 21st. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Finally, Weiss Ratings lowered shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.57.

Insider Activity

In other NetEase news, VP Aileen Mo sold 716 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total transaction of $86,378.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the transaction, the general counsel owned 12,223 shares in the company, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 54.70% of the stock is owned by company insiders.

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.