Alkeon Capital Management LLC Has $1.74 Million Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Alkeon Capital Management LLC trimmed its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 97.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,638 shares of the technology company's stock after selling 849,000 shares during the quarter. Alkeon Capital Management LLC's holdings in NetEase were worth $1,743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guinness Asset Management LTD lifted its stake in NetEase by 16.7% during the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company's stock worth $8,111,000 after purchasing an additional 12,410 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of NetEase by 65.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company's stock worth $73,811,000 after buying an additional 306,500 shares during the period. Legacy Capital Group California Inc. acquired a new stake in NetEase in the 2nd quarter valued at $267,000. Assetmark Inc. grew its position in NetEase by 27.3% in the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company's stock valued at $3,597,000 after acquiring an additional 8,248 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in NetEase by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company's stock worth $54,502,000 after acquiring an additional 76,446 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Barclays dropped their price target on NetEase from $104.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, August 26th. Citigroup lifted their price objective on NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Bank of America decreased their target price on NetEase from $142.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, August 23rd. Finally, StockNews.com raised NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NetEase currently has an average rating of "Moderate Buy" and a consensus price target of $107.29.

NetEase Price Performance

Shares of NASDAQ NTES traded up $1.35 during midday trading on Friday, reaching $87.48. 607,330 shares of the stock were exchanged, compared to its average volume of 1,734,200. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $114.50. The business has a 50-day simple moving average of $85.61 and a two-hundred day simple moving average of $88.23. The company has a market capitalization of $56.18 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 3.20 and a beta of 0.57.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.99%. NetEase's payout ratio is 29.22%.

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.