XY Capital Ltd Buys Shares of 10,240 NetEase, Inc. $NTES

XY Capital Ltd purchased a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 10,240 shares of the technology company’s stock, valued at approximately $1,312,000. NetEase comprises 1.3% of XY Capital Ltd’s investment portfolio, making the stock its 16th biggest position.

Several other institutional investors have also modified their holdings of NTES. Brighton Jones LLC increased its holdings in shares of 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 during the 1st quarter valued at about $63,000. EverSource Wealth Advisors LLC boosted its stake in NetEase by 106.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock valued at $73,000 after purchasing an additional 280 shares during the period. First Trust Advisors LP grew its position in 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 purchasing an additional 67,934 shares during the last quarter. Finally, Walleye Capital LLC grew its position in NetEase by 670.9% in the 2nd 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. Institutional investors own 11.07% of the company’s stock.

Insider Activity at NetEase

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the general counsel owned 12,223 shares of the company’s stock, valued at $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bin Mo sold 716 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total value of $86,378.24. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 54.70% of the company’s stock.

NetEase Stock Up 1.9%

Shares of NTES opened at $119.29 on Friday. The firm has a market capitalization of $76.38 billion, a PE ratio of 16.43, a P/E/G ratio of 1.38 and a beta of 0.72. The firm has a 50-day moving average price of $126.98 and a 200 day moving average price of $120.50. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55.

NetEase Cuts Dividend

The business 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 $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 3rd. NetEase’s dividend payout ratio is currently 26.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings cut NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Sanford C. Bernstein restated an “outperform” rating and issued a $160.00 target price on shares of NetEase in a research report on Friday, August 21st. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.57.

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.