Mirae Asset Global Investments Co. Ltd. Sells 6,147 Shares of NetEase, Inc. $NTES

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 17.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,229 shares of the technology company’s stock after selling 6,147 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NetEase were worth $3,745,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after purchasing an additional 117 shares during the last quarter. Strs Ohio bought a new stake in NetEase in the 1st quarter worth approximately $63,000. EverSource Wealth Advisors LLC grew its position in NetEase by 106.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after purchasing an additional 280 shares during the period. First Trust Advisors LP raised its stake in NetEase by 287.4% during the 2nd quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock valued at $12,324,000 after buying an additional 67,934 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in NetEase by 670.9% during the 2nd quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock valued at $709,000 after buying an additional 4,582 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Trading Down 1.2%

NTES opened at $122.65 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 capitalization of $78.53 billion, a PE ratio of 16.29, a PEG ratio of 1.61 and a beta of 0.73. The firm’s 50 day simple moving average is $126.51 and its two-hundred day simple moving average is $120.77.

NetEase Cuts Dividend

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

Insider Buying and Selling

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the transaction, the general counsel directly owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. This trade represents a 45.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 54.70% of the company’s stock.

Analyst Upgrades and Downgrades

NTES has been the topic of several research analyst reports. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. 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. Weiss Ratings downgraded NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, The Goldman Sachs Group set a $169.00 target price on NetEase in a research report on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.38.

NetEase 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.