Greenwoods Asset Management Hong Kong Ltd. Has $76.97 Million Stock Position in NetEase, Inc. $NTES

Greenwoods Asset Management Hong Kong Ltd. decreased its holdings in NetEase, Inc. (NASDAQ:NTES) by 81.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 600,631 shares of the technology company’s stock after selling 2,589,369 shares during the period. NetEase makes up about 3.5% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 6th biggest holding. Greenwoods Asset Management Hong Kong Ltd.’s holdings in NetEase were worth $76,965,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC boosted its position in 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 buying an additional 117 shares during the period. Strs Ohio purchased a new position in shares of NetEase in the first quarter worth about $63,000. EverSource Wealth Advisors LLC lifted its stake in shares of NetEase by 106.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock valued at $73,000 after acquiring an additional 280 shares during the last quarter. First Trust Advisors LP boosted its holdings 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 acquiring an additional 67,934 shares during the period. Finally, Walleye Capital LLC increased its stake in NetEase by 670.9% in the 2nd quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after purchasing an additional 4,582 shares during the period. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

NTES has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Morgan Stanley reissued an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Nomura upped their price objective on shares of NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Finally, Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.57.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’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 transaction, the general counsel owned 12,223 shares in the company, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 54.70% of the company’s stock.

NetEase Price Performance

NTES stock opened at $119.46 on Thursday. The stock has a market capitalization of $76.48 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.39 and a beta of 0.72. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $159.55. The business has a fifty day moving average price of $127.02 and a 200-day moving average price of $120.54.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd will be given a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.6%. NetEase’s payout ratio is 26.31%.

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.