Perpetual Ltd Acquires New Shares in NetEase, Inc. $NTES

Perpetual Ltd bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 198,817 shares of the technology company’s stock, valued at approximately $24,089,000.

Several other institutional investors also recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in NetEase by 25.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock worth $152,595,000 after buying an additional 274,500 shares in the last quarter. Bank of America Corp DE raised its position in NetEase by 111.4% in the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after buying an additional 698,318 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NetEase by 16.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock valued at $120,697,000 after acquiring an additional 155,784 shares during the period. Temasek Holdings Private Ltd lifted its stake in NetEase by 50.7% during the 1st quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock valued at $79,266,000 after acquiring an additional 238,386 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of NetEase by 64.2% during the 1st quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock valued at $65,118,000 after acquiring an additional 227,433 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

NTES opened at $125.41 on Tuesday. The stock’s 50 day moving average price is $121.75 and its 200-day moving average price is $120.92. 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 $80.29 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.46 and a beta of 0.68.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd were given a $0.48 dividend. This is a drop from NetEase’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.92 annualized dividend and a yield of 1.5%. NetEase’s dividend payout ratio is currently 26.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NTES. Sanford C. Bernstein reiterated an “outperform” rating and issued a $160.00 price target on shares of NetEase in a research note on Friday, August 21st. Nomura boosted their price objective on shares of NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. BNP Paribas Exane began coverage on shares of NetEase in a research report on Tuesday, September 22nd. They set an “outperform” rating and a $180.00 price objective on the stock. Weiss Ratings lowered shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Finally, Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.86.

Insider Buying and Selling

In other NetEase news, VP Aileen Mo sold 716 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total value of $86,378.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 54.70% of the stock is owned by company insiders.

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.