Point72 Asset Management L.P. Purchases 293,400 Shares of NetEase, Inc. (NASDAQ:NTES)

Point72 Asset Management L.P. grew its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 126.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 525,400 shares of the technology company's stock after purchasing an additional 293,400 shares during the quarter. Point72 Asset Management L.P. owned about 0.08% of NetEase worth $50,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its stake in NetEase by 226.4% in the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company's stock valued at $176,677,000 after buying an additional 1,315,410 shares during the last quarter. Tairen Capital Ltd acquired a new stake in NetEase in the 4th quarter worth $164,307,000. Massachusetts Financial Services Co. MA grew its position in NetEase by 6.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company's stock worth $161,789,000 after purchasing an additional 103,102 shares during the last quarter. Capital International Investors grew its position in NetEase by 1.1% in the 1st quarter. Capital International Investors now owns 1,052,966 shares of the technology company's stock worth $108,950,000 after purchasing an additional 11,729 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in NetEase in the 1st quarter worth $103,658,000. Institutional investors own 11.07% of the company's stock.

NetEase Stock Up 4.9 %

NASDAQ NTES traded up $4.24 during trading on Thursday, reaching $91.13. 4,511,200 shares of the stock traded hands, compared to its average volume of 1,718,401. The firm has a market cap of $58.52 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.78 and a beta of 0.54. The stock's 50-day moving average price is $85.39 and its 200 day moving average price is $92.65. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $118.89.

NetEase (NASDAQ:NTES - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, beating the consensus estimate of $1.62 by $10.43. The company had revenue of $25.49 billion during the quarter, compared to analysts' expectations of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.75 earnings per share. Analysts anticipate that NetEase, Inc. will post 6.05 EPS for the current fiscal year.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Friday, September 6th. NetEase's dividend payout ratio is presently 26.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays decreased their target price on shares of NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, August 26th. StockNews.com downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 20th. Jefferies Financial Group cut their price target on shares of NetEase from $126.00 to $103.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Morgan Stanley reissued an "equal weight" rating and set a $100.00 price target on shares of NetEase in a report on Friday, July 5th. Finally, Bank of America cut their price target on shares of NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $112.67.

NetEase Company Profile

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.