NetEase, Inc. $NTES Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC raised its holdings in NetEase, Inc. (NASDAQ:NTES) by 64.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 581,720 shares of the technology company’s stock after acquiring an additional 227,433 shares during the quarter. Lazard Asset Management LLC’s holdings in NetEase were worth $65,118,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of NetEase by 68,860.6% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after purchasing an additional 8,538,717 shares during the period. Renaissance Technologies LLC lifted its stake in shares of NetEase by 25.2% in the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after purchasing an additional 274,500 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of NetEase by 16.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock valued at $120,697,000 after purchasing an additional 155,784 shares during the period. Man Group plc boosted its holdings in NetEase by 7.3% during the third quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock worth $160,368,000 after buying an additional 71,966 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in NetEase by 25.4% during the fourth quarter. Morgan Stanley now owns 894,440 shares of the technology company’s stock worth $123,093,000 after buying an additional 181,007 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NetEase 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 transaction of $1,283,000.00. Following the completion of the transaction, the general counsel 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 54.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. The Goldman Sachs Group set a $169.00 price target on NetEase in a report on Wednesday, July 1st. Weiss Ratings raised NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 20th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Finally, Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.38.

NetEase Price Performance

NTES stock opened at $123.77 on Tuesday. The company’s 50 day simple moving average is $124.17 and its 200-day simple moving average is $121.57. NetEase, Inc. has a 12 month low of $106.06 and a 12 month high of $159.55. The firm has a market capitalization of $79.24 billion, a PE ratio of 16.44, a P/E/G ratio of 1.55 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, June 5th. NetEase’s dividend payout ratio is 38.11%.

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.