9,111 NetEase, Inc. $NTES Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 7.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 115,846 shares of the technology company’s stock after selling 9,111 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in NetEase were worth $14,036,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Renaissance Technologies LLC raised its stake in NetEase by 25.2% during the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock worth $152,595,000 after purchasing an additional 274,500 shares during the period. Bank of America Corp DE increased its position in shares of NetEase by 111.4% during the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after purchasing an additional 698,318 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of NetEase by 16.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock worth $120,697,000 after purchasing an additional 155,784 shares during the last quarter. Temasek Holdings Private Ltd boosted its stake in NetEase by 50.7% during the first quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock worth $79,266,000 after buying an additional 238,386 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of NetEase by 64.2% in the 1st quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock worth $65,118,000 after acquiring an additional 227,433 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NetEase

In related news, VP Aileen Mo sold 716 shares of the firm’s 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 54.70% of the stock is owned by company insiders.

NetEase Stock Performance

Shares of NetEase stock opened at $122.98 on Thursday. NetEase, Inc. has a one year low of $106.06 and a one year high of $149.20. The company has a market cap of $78.74 billion, a P/E ratio of 16.94, a PEG ratio of 1.47 and a beta of 0.68. The firm has a fifty day moving average of $121.11 and a two-hundred day moving average of $121.59.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date was Thursday, September 3rd. This is a negative change from NetEase’s previous quarterly dividend of $0.72. NetEase’s payout ratio is 26.31%.

Analyst Upgrades and Downgrades

NTES has been the topic of several research analyst reports. Weiss Ratings downgraded NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Sanford C. Bernstein reissued an “outperform” rating and issued a $160.00 price objective on shares of NetEase in a research report on Friday, August 21st. Zacks Research lowered NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Nomura upped their price objective on NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.86.

NetEase Profile

NetEase, Inc is a China-based internet and technology company founded in 1997 by William Ding. The company develops and operates online games for personal computers and mobile devices, serving players in China and international markets.

NetEase Games is the company’s primary business and offers original titles such as Fantasy Westward Journey, Justice, and Identity V, along with games developed through partnerships and international studios. NetEase also publishes and distributes games in overseas markets through its global operations.

Beyond gaming, NetEase operates NetEase Cloud Music, an online music streaming and social platform, and Youdao, which provides educational technology, learning tools, and related content and services.