Perseverance Asset Management International Increases Stake in NetEase, Inc. $NTES

Perseverance Asset Management International raised its stake in NetEase, Inc. (NASDAQ:NTES) by 54.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 170,000 shares of the technology company’s stock after acquiring an additional 60,000 shares during the quarter. NetEase makes up approximately 2.1% of Perseverance Asset Management International’s investment portfolio, making the stock its 11th largest position. Perseverance Asset Management International’s holdings in NetEase were worth $19,030,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Aspen Grove Capital LLC purchased a new position in shares of NetEase during the 1st quarter valued at approximately $203,000. Sei Investments Co. boosted its holdings in NetEase by 6.2% during the first quarter. Sei Investments Co. now owns 11,163 shares of the technology company’s stock worth $1,250,000 after buying an additional 653 shares in the last quarter. NewEdge Wealth LLC boosted its holdings in NetEase by 114.3% during the first quarter. NewEdge Wealth LLC now owns 48,068 shares of the technology company’s stock worth $5,381,000 after buying an additional 25,634 shares in the last quarter. Temasek Holdings Private Ltd grew its position in NetEase by 50.7% during the first quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock valued at $79,266,000 after buying an additional 238,386 shares during the period. Finally, ABN Amro Investment Solutions grew its position in NetEase by 62.8% during the first quarter. ABN Amro Investment Solutions now owns 27,478 shares of the technology company’s stock valued at $3,076,000 after buying an additional 10,600 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

NTES has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a research note on Monday, July 6th. The Goldman Sachs Group set a $169.00 target price on NetEase in a research report on Wednesday, July 1st. Morgan Stanley restated an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Finally, Weiss Ratings raised NetEase from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $158.38.

Insider Transactions at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the sale, the general counsel owned 12,223 shares in the company, valued at $1,568,210.90. This trade represents 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 through this link. 54.70% of the stock is currently owned by insiders.

NetEase Stock Performance

NetEase stock opened at $120.18 on Friday. The company’s fifty day moving average price is $123.84 and its 200 day moving average price is $121.91. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55. The stock has a market capitalization of $76.73 billion, a P/E ratio of 15.96, a P/E/G ratio of 1.57 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were issued a dividend of $0.72 per share. 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 (DPR) is presently 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.