NetEase, Inc. $NTES Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. reduced its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,048 shares of the technology company’s stock after selling 23,960 shares during the quarter. NetEase comprises 2.8% of Ninety One North America Inc.’s investment portfolio, making the stock its 8th biggest position. Ninety One North America Inc. owned about 0.07% of NetEase worth $55,982,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Lazard Asset Management LLC lifted its position in shares of NetEase by 64.2% during the first 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 in the last quarter. Royal Bank of Canada lifted its holdings in shares of NetEase by 40.8% in the first quarter. Royal Bank of Canada now owns 99,814 shares of the technology company’s stock worth $11,173,000 after buying an additional 28,934 shares in the last quarter. Temasek Holdings Private Ltd lifted its holdings in shares of NetEase by 50.7% in 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 in the last quarter. Carrhae Capital LLP lifted its holdings in shares of NetEase by 343.2% in the second quarter. Carrhae Capital LLP now owns 306,577 shares of the technology company’s stock worth $39,285,000 after buying an additional 237,410 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of NetEase by 111.4% in the first quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock valued at $148,356,000 after acquiring an additional 698,318 shares during the period. 11.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on NTES. Nomura upped their target price on shares of NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Morgan Stanley reissued an “overweight” rating and issued a $163.00 price target on shares of NetEase in a report on Monday, September 28th. Sanford C. Bernstein reissued an “outperform” rating and issued a $160.00 price target on shares of NetEase in a report on Friday, August 21st. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a research report on Wednesday, July 1st. Finally, BNP Paribas Exane initiated coverage on shares of NetEase in a research report on Tuesday, September 22nd. They set an “outperform” rating and a $180.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.86.

Insider Buying and Selling at NetEase

In related news, VP Aileen Mo sold 716 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total transaction of $86,378.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 54.70% of the company’s stock.

NetEase Stock Performance

NTES traded up $3.30 during trading on Thursday, reaching $127.03. The stock had a trading volume of 251,745 shares, compared to its average volume of 841,983. The business has a 50-day moving average of $121.54 and a 200-day moving average of $121.10. NetEase, Inc. has a one year low of $106.06 and a one year high of $153.54. The stock has a market cap of $81.33 billion, a PE ratio of 17.49, a PEG ratio of 1.47 and a beta of 0.68.

NetEase Cuts Dividend

The company also recently disclosed 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 is a drop from NetEase’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, September 3rd. This represents a $1.92 annualized dividend and a dividend yield of 1.5%. NetEase’s dividend payout ratio is currently 26.31%.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a China-based internet technology company founded in 1997 by William Ding, who serves as the company’s chief executive officer and director. The company develops and operates online services for consumers in China and international markets.

NetEase’s primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.