Penserra Capital Management LLC Cuts Stock Position in NetEase, Inc. $NTES

Penserra Capital Management LLC cut its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 17.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,674 shares of the technology company’s stock after selling 3,043 shares during the quarter. Penserra Capital Management LLC’s holdings in NetEase were worth $1,974,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NTES. NewSquare Capital LLC raised its position in NetEase by 137.2% during the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after buying an additional 107 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of NetEase during the first quarter worth about $26,000. Private Trust Co. NA raised its holdings in NetEase by 266.0% during the second quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. USA Financial Formulas purchased a new position in NetEase during the second quarter worth about $30,000. Finally, Reyes Financial Architecture Inc. lifted its position in NetEase by 1,189.5% in the second quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock valued at $33,000 after purchasing an additional 226 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Up 0.9%

NetEase stock opened at $140.30 on Tuesday. The firm has a market capitalization of $88.89 billion, a PE ratio of 18.99, a P/E/G ratio of 1.91 and a beta of 0.65. NetEase, Inc. has a 52 week low of $75.88 and a 52 week high of $159.55. The firm’s 50-day simple moving average is $147.05 and its 200 day simple moving average is $133.85.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase’s dividend payout ratio is 30.72%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NTES. Wall Street Zen upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. The Goldman Sachs Group set a $161.00 price target on NetEase and gave the company a “buy” rating in a research note on Monday, September 15th. Barclays set a $120.00 price objective on NetEase and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price target on shares of NetEase in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $142.30.

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.