XTX Topco Ltd Sells 6,338 Shares of NetEase, Inc. $NTES

XTX Topco Ltd decreased its position in shares of NetEase, Inc. (NASDAQ:NTES) by 56.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,940 shares of the technology company’s stock after selling 6,338 shares during the quarter. XTX Topco Ltd’s holdings in NetEase were worth $665,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the period. Avantax Advisory Services Inc. bought a new stake in shares of NetEase in the 1st quarter valued at $207,000. Cetera Investment Advisers raised its stake in NetEase by 21.5% during the 1st quarter. Cetera Investment Advisers now owns 4,993 shares of the technology company’s stock worth $514,000 after buying an additional 885 shares during the period. Arkadios Wealth Advisors bought a new position in NetEase during the first quarter worth about $328,000. Finally, US Bancorp DE grew its stake in NetEase by 260.4% in the first quarter. US Bancorp DE now owns 26,276 shares of the technology company’s stock valued at $2,704,000 after acquiring an additional 18,985 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Trading Down 1.8%

NASDAQ:NTES opened at $142.30 on Wednesday. NetEase, Inc. has a 1-year low of $87.67 and a 1-year high of $159.55. The firm has a fifty day simple moving average of $144.39 and a 200 day simple moving average of $137.27. The stock has a market capitalization of $90.16 billion, a PE ratio of 19.26, a P/E/G ratio of 1.91 and a beta of 0.68.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, December 5th. NetEase’s payout ratio is 28.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetEase in a research report on Monday. Morgan Stanley reissued an “overweight” rating and set a $170.00 target price on shares of NetEase in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $138.00 to $190.00 in a research note on Friday, October 10th. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Finally, Arete Research upgraded shares of NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. One equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $152.10.

About NetEase

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.