Bayforest Capital Ltd grew its stake in shares of NetEase, Inc. (NASDAQ:NTES – Free Report) by 12.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,061 shares of the technology company’s stock after acquiring an additional 674 shares during the period. Bayforest Capital Ltd’s holdings in NetEase were worth $816,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NetEase by 7,698.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company’s stock worth $289,928,000 after buying an additional 2,780,897 shares during the period. Wellington Management Group LLP boosted its holdings in NetEase by 111.7% in the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock worth $204,661,000 after buying an additional 1,049,023 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in NetEase by 54.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company’s stock worth $203,560,000 after buying an additional 697,192 shares during the period. New York State Common Retirement Fund bought a new position in NetEase in the 1st quarter worth approximately $28,765,000. Finally, TT International Asset Management LTD bought a new position in NetEase in the 1st quarter worth approximately $21,918,000. 11.07% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
NTES has been the subject of several analyst reports. Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. The Goldman Sachs Group set a $161.00 target price on NetEase and gave the stock a “buy” rating in a research report on Monday, September 15th. Barclays set a $120.00 target price on NetEase and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Morgan Stanley restated an “overweight” rating and set a $170.00 target price on shares of NetEase in a research report on Wednesday, October 8th. Finally, Arete upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.30.
NetEase Stock Up 1.7%
Shares of NASDAQ:NTES opened at $149.37 on Tuesday. The stock has a market cap of $94.64 billion, a PE ratio of 20.21, a PEG ratio of 1.96 and a beta of 0.67. The company’s fifty day moving average is $142.24 and its 200 day moving average is $127.27. NetEase, Inc. has a 52 week low of $75.88 and a 52 week high of $159.55.
NetEase Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, August 28th. NetEase’s dividend payout ratio (DPR) is presently 30.72%.
NetEase Company Profile
NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.
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