Van ECK Associates Corp Sells 43,493 Shares of NetEase, Inc. $NTES

Van ECK Associates Corp cut its stake in NetEase, Inc. (NASDAQ:NTES) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 543,409 shares of the technology company’s stock after selling 43,493 shares during the period. Van ECK Associates Corp owned 0.08% of NetEase worth $69,632,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NetEase by 68,860.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after acquiring an additional 8,538,717 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of NetEase by 111.4% during the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock valued at $148,356,000 after buying an additional 698,318 shares in the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in shares of NetEase in the 4th quarter worth about $44,214,000. Renaissance Technologies LLC increased its position in NetEase by 25.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after buying an additional 274,500 shares in the last quarter. Finally, Man Group plc increased its holdings in shares of NetEase by 33.3% during the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock valued at $132,313,000 after acquiring an additional 245,872 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

Insider Transactions at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction on Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the transaction, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This trade represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 54.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on NTES shares. Morgan Stanley reiterated an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Benchmark restated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $160.00 price objective on shares of NetEase in a report on Friday, August 21st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.00.

NetEase Stock Performance

NASDAQ NTES opened at $122.76 on Friday. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The company has a market capitalization of $78.60 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.42 and a beta of 0.73. The company’s 50-day simple moving average is $126.97 and its two-hundred day simple moving average is $120.55.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 3rd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.6%. NetEase’s payout ratio is 39.53%.

NetEase 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.