NetEase, Inc. (NASDAQ:NTES) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,267 shares of the technology company's stock after selling 11,978 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in NetEase were worth $3,486,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of NetEase by 4.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,501 shares of the technology company's stock worth $983,000 after acquiring an additional 430 shares during the last quarter. Naviter Wealth LLC purchased a new position in NetEase during the first quarter worth about $556,000. Capstone Investment Advisors LLC purchased a new position in NetEase during the first quarter worth about $1,167,000. Broad Peak Investment Holdings Ltd. acquired a new position in NetEase in the 1st quarter valued at about $34,662,000. Finally, Nordea Investment Management AB grew its stake in shares of NetEase by 17.2% in the 1st quarter. Nordea Investment Management AB now owns 318,550 shares of the technology company's stock valued at $33,059,000 after buying an additional 46,635 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.

Wall Street Analyst Weigh In

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

NetEase Stock Down 1.5 %

NTES stock traded down $1.26 during midday trading on Wednesday, hitting $81.06. The company's stock had a trading volume of 547,718 shares, compared to its average volume of 1,744,081. The firm has a 50-day simple moving average of $84.12 and a 200-day simple moving average of $90.18. The firm has a market capitalization of $52.05 billion, a P/E ratio of 13.43, a PEG ratio of 1.76 and a beta of 0.55. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $118.89.

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

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.435 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.15%. NetEase's payout ratio is 28.22%.

NetEase 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.