NetEase, Inc. $NTES Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. lessened its holdings in NetEase, Inc. (NASDAQ:NTES) by 4.9% during the third quarter, Holdings Channel.com reports. The firm owned 462,048 shares of the technology company’s stock after selling 23,960 shares during the quarter. NetEase accounts for 2.8% of Ninety One North America Inc.’s investment portfolio, making the stock its 8th largest holding. Ninety One North America Inc.’s holdings in NetEase were worth $55,982,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sanders Morris Harris LLC purchased a new position in shares of NetEase in the third quarter worth about $718,000. Euro Pacific Asset Management LLC bought a new stake in shares of NetEase in the 3rd quarter valued at about $1,400,000. Perpetual Ltd bought a new stake in shares of NetEase in the 3rd quarter valued at about $24,089,000. QRG Capital Management Inc. lifted its stake in shares of NetEase by 23.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,468 shares of the technology company’s stock valued at $1,213,000 after acquiring an additional 1,804 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in NetEase by 28.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 220,862 shares of the technology company’s stock valued at $28,301,000 after acquiring an additional 48,446 shares during the period. 11.07% of the stock is owned by institutional investors.

NetEase Stock Up 2.7%

Shares of NetEase stock traded up $3.30 during trading on Thursday, reaching $127.03. 251,745 shares of the stock were exchanged, compared to its average volume of 841,983. The firm has a market cap of $81.33 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $153.54. The stock’s fifty day moving average is $121.54 and its 200 day moving average is $121.10.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, September 3rd. This is a negative change from NetEase’s previous quarterly dividend of $0.72. NetEase’s dividend payout ratio is currently 26.31%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NTES. BNP Paribas Exane started coverage on NetEase in a research report on Tuesday, September 22nd. They issued an “outperform” rating and a $180.00 price objective for the company. The Goldman Sachs Group set a $169.00 price objective on NetEase in a research note on Wednesday, July 1st. Zacks Research cut shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $163.00 target price on shares of NetEase in a research note on Monday, September 28th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $160.00 price target on shares of NetEase in a report on Friday, August 21st. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, NetEase has an average rating of “Moderate Buy” and an average price target of $159.86.

Insiders Place Their Bets

In other NetEase news, VP Aileen Mo sold 716 shares of the 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 54.70% of the company’s stock.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a China-based internet technology company founded in 1997 by William Ding, who serves as the company’s chief executive officer and director. The company develops and operates online services for consumers in China and international markets.

NetEase’s primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.