Arrowstreet Capital Limited Partnership Decreases Stake in NetEase, Inc. $NTES

Arrowstreet Capital Limited Partnership lowered its holdings in NetEase, Inc. (NASDAQ:NTES) by 32.6% in the 4th quarter, Holdings Channel reports. The firm owned 1,218,256 shares of the technology company’s stock after selling 590,580 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in NetEase were worth $167,656,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NetEase by 68,860.6% in the third 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 purchasing an additional 8,538,717 shares during the last quarter. Bank of Montreal Can increased its position in NetEase by 1,636.4% during the third quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock valued at $100,702,000 after acquiring an additional 624,399 shares during the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in NetEase during the fourth quarter valued at $44,214,000. Man Group plc increased its position in 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 during the last quarter. Finally, Causeway Capital Management LLC increased its position in NetEase by 44.6% during the third quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company’s stock valued at $97,017,000 after acquiring an additional 196,821 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NTES shares. Wall Street Zen upgraded NetEase from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Morgan Stanley reiterated an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research report on Tuesday, May 26th. Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Finally, Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.38.

NetEase Stock Up 0.1%

Shares of NTES opened at $125.93 on Tuesday. The business has a 50-day simple moving average of $117.38 and a two-hundred day simple moving average of $124.30. The stock has a market cap of $80.40 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.63 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.3%. NetEase’s dividend payout ratio is 38.11%.

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.