NetEase, Inc. (NASDAQ:NTES) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 2,174,612 shares, a growth of 30.3% from the July 14th total of 1,669,003 shares. Based on an average daily volume of 990,129 shares, the days-to-cover ratio is currently 2.2 days.

Shares of NetEase (NASDAQ:NTES) opened at 280.96 on Friday. NetEase has a 12 month low of $199.13 and a 12 month high of $337.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 25th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, August 23rd. NetEase’s payout ratio is 24.73%.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of NetEase by 1,571.4% in the first quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock worth $1,431,127,000 after buying an additional 4,737,686 shares during the last quarter. Credit Agricole S A increased its stake in shares of NetEase by 19.2% in the first quarter. Credit Agricole S A now owns 4,395,661 shares of the technology company’s stock worth $1,248,368,000 after buying an additional 709,148 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of NetEase by 20.1% in the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock worth $819,517,000 after buying an additional 456,300 shares during the last quarter. FMR LLC increased its stake in shares of NetEase by 63.3% in the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock worth $652,551,000 after buying an additional 841,692 shares during the last quarter. Finally, State Street Corp increased its stake in shares of NetEase by 8.8% in the first quarter. State Street Corp now owns 1,712,268 shares of the technology company’s stock worth $486,279,000 after buying an additional 137,801 shares during the last quarter. 55.53% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on NTES. CLSA downgraded shares of NetEase from an “outperform” rating to an “underperform” rating in a report on Thursday. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Thursday. Vetr cut shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $318.49 price objective on the stock. in a research report on Monday, May 22nd. Standpoint Research cut shares of NetEase from a “buy” rating to a “reduce” rating and lifted their price objective for the company from $345.00 to $360.00 in a research report on Wednesday, June 7th. Finally, Zacks Investment Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating and set a $346.00 price objective on the stock in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $301.90.

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About NetEase

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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