Y Intercept Hong Kong Ltd Buys Shares of 71,766 NetEase, Inc. $NTES

Y Intercept Hong Kong Ltd bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the 1st quarter, Holdings Channel reports. The firm bought 71,766 shares of the technology company’s stock, valued at approximately $8,033,000.

A number of other hedge funds have also recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NetEase by 68,860.6% during 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 valued at $1,299,684,000 after buying an additional 8,538,717 shares in the last quarter. Bank of Montreal Can grew its stake in shares of NetEase by 1,636.4% in the third quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock worth $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 shares of NetEase in the fourth quarter worth $44,214,000. 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. Finally, Causeway Capital Management LLC increased its holdings in shares of 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 in the last quarter. 11.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

NTES has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research note on Thursday, June 18th. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Zacks Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a report on Wednesday. Finally, Wall Street Zen raised shares of NetEase from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.38.

Insider Activity

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 shares were 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. This trade represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 54.70% of the stock is currently owned by insiders.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $127.24 on Friday. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55. The company has a market cap of $81.23 billion, a P/E ratio of 16.90, a PEG ratio of 1.65 and a beta of 0.72. The stock’s fifty day moving average price is $119.78 and its 200-day moving average price is $122.86.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a dividend of $0.72 per share. The ex-dividend date was Friday, June 5th. This represents a $2.88 annualized dividend and a yield of 2.3%. NetEase’s dividend payout ratio is currently 38.11%.

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.