Royal Bank of Canada Has $11.17 Million Position in NetEase, Inc. $NTES

Royal Bank of Canada boosted its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 40.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,814 shares of the technology company’s stock after purchasing an additional 28,934 shares during the period. Royal Bank of Canada’s holdings in NetEase were worth $11,173,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after acquiring an additional 117 shares in the last quarter. Strs Ohio purchased a new stake in shares of NetEase during the first quarter worth $63,000. EverSource Wealth Advisors LLC boosted its position in NetEase by 106.9% during the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock valued at $73,000 after purchasing an additional 280 shares during the last quarter. First Trust Advisors LP boosted its position in NetEase by 287.4% during the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock valued at $12,324,000 after purchasing an additional 67,934 shares during the last quarter. Finally, Walleye Capital LLC grew its stake in NetEase by 670.9% in the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock valued at $709,000 after purchasing an additional 4,582 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Price Performance

NetEase stock opened at $132.22 on Friday. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The company’s fifty day moving average price is $126.21 and its two-hundred day moving average price is $121.07. The company has a market capitalization of $84.65 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.71 and a beta of 0.73.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.2%. NetEase’s dividend payout ratio is currently 38.11%.

Insider Buying and Selling at NetEase

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the transaction, the general counsel directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 54.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NTES shares. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Morgan Stanley reissued an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research report on Wednesday, July 1st. Finally, Weiss Ratings cut shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.38.

NetEase Company 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.