NetEase, Inc. $NTES Holdings Lowered by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its stake in NetEase, Inc. (NASDAQ:NTES) by 42.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,493 shares of the technology company’s stock after selling 7,810 shares during the period. Sanctuary Advisors LLC’s holdings in NetEase were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in NTES. Brighton Jones LLC boosted its stake in NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after purchasing an additional 117 shares in the last quarter. Strs Ohio bought a new position in shares of NetEase in the first quarter valued at $63,000. EverSource Wealth Advisors LLC grew its holdings in shares of NetEase by 106.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after acquiring an additional 280 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of NetEase by 287.4% in the 2nd quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after acquiring an additional 67,934 shares during the last quarter. Finally, Walleye Capital LLC raised its position 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 period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on NTES shares. Weiss Ratings upgraded shares of NetEase from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Wall Street Zen raised NetEase from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley reiterated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Finally, Benchmark restated a “buy” rating on shares of NetEase in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.38.

NetEase Trading Down 0.5%

Shares of NASDAQ:NTES opened at $119.55 on Friday. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55. The business has a fifty day simple moving average of $123.97 and a 200 day simple moving average of $121.89. The firm has a market cap of $76.54 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.56 and a beta of 0.72.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, June 5th. NetEase’s dividend payout ratio is presently 38.11%.

Insider Buying and Selling at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’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 directly owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 54.70% of the stock is owned by company insiders.

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.