DRW Securities LLC cut its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 75.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,643 shares of the technology company's stock after selling 8,171 shares during the quarter. DRW Securities LLC's holdings in NetEase were worth $236,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. WT Asset Management Ltd bought a new stake in NetEase during the 4th quarter worth about $2,624,000. SG Americas Securities LLC acquired a new position in NetEase in the fourth quarter valued at about $654,000. APEIRON CAPITAL Ltd increased its stake in shares of NetEase by 20.5% in the 4th quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company's stock valued at $11,537,000 after acquiring an additional 22,000 shares during the last quarter. SVB Wealth LLC bought a new position in NetEase during the 4th quarter worth approximately $3,817,000. Finally, Greenwoods Asset Management Hong Kong Ltd. raised its holdings in NetEase by 10.8% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company's stock worth $324,088,000 after purchasing an additional 354,273 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on NTES. Barclays raised their price objective on NetEase from $82.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. Benchmark upped their price target on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, February 21st. Bank of America upped their target price on shares of NetEase from $120.00 to $122.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley boosted their target price on NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, NetEase currently has a consensus rating of "Moderate Buy" and an average price target of $114.57.
Get Our Latest Research Report on NTES
NetEase Trading Up 1.8 %
Shares of NTES traded up $1.78 during midday trading on Thursday, reaching $99.19. The stock had a trading volume of 713,085 shares, compared to its average volume of 1,603,608. The firm has a 50 day simple moving average of $100.86 and a 200-day simple moving average of $94.24. The firm has a market cap of $63.70 billion, a PE ratio of 15.60, a P/E/G ratio of 3.37 and a beta of 0.65. NetEase, Inc. has a one year low of $75.85 and a one year high of $110.15.
NetEase (NASDAQ:NTES - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.14. NetEase had a return on equity of 22.12% and a net margin of 28.17%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $27.16 billion. As a group, research analysts forecast that NetEase, Inc. will post 6.91 EPS for the current fiscal year.
NetEase Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Thursday, March 6th. NetEase's dividend payout ratio is presently 76.45%.
About NetEase
(
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.
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