Arrowstreet Capital Limited Partnership grew its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,016,465 shares of the technology company's stock after acquiring an additional 54,899 shares during the period. Arrowstreet Capital Limited Partnership owned 0.31% of NetEase worth $179,889,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Davis Selected Advisers purchased a new stake in NetEase in the fourth quarter worth about $53,287,000. Temasek Holdings Private Ltd purchased a new stake in shares of NetEase in the 3rd quarter worth approximately $51,498,000. Greenwoods Asset Management Hong Kong Ltd. boosted its stake in shares of NetEase by 10.8% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company's stock valued at $324,088,000 after purchasing an additional 354,273 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in NetEase during the fourth quarter valued at approximately $30,563,000. Finally, Pictet Asset Management Holding SA raised its stake in NetEase by 1,459.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 134,113 shares of the technology company's stock worth $11,964,000 after buying an additional 125,513 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on NTES. StockNews.com downgraded NetEase from a "strong-buy" rating to a "buy" rating in a report on Friday, December 6th. Benchmark lifted their target price on NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Barclays increased their price target on shares of NetEase from $82.00 to $104.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. Bank of America lifted their price objective on shares of NetEase from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley increased their target price on shares of NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $114.57.
Read Our Latest Stock Report on NetEase
NetEase Stock Performance
NTES stock traded down $6.08 during trading on Friday, reaching $98.86. The company had a trading volume of 3,078,182 shares, compared to its average volume of 1,581,010. The company has a market cap of $63.48 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $110.15. The firm has a 50-day simple moving average of $102.39 and a 200-day simple moving average of $93.51.
NetEase (NASDAQ:NTES - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. Sell-side analysts expect that NetEase, Inc. will post 6.91 earnings per share for the current year.
NetEase Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Thursday, March 6th. NetEase's dividend payout ratio is presently 76.45%.
NetEase Company Profile
(
Free Report)
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.
See Also
Before you consider NetEase, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NetEase wasn't on the list.
While NetEase currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
