NetEase, Inc. (NASDAQ:NTES) Shares Sold by TT International Asset Management LTD

TT International Asset Management LTD lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 44.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 276,169 shares of the technology company's stock after selling 221,155 shares during the quarter. NetEase comprises about 3.2% of TT International Asset Management LTD's holdings, making the stock its 9th biggest holding. TT International Asset Management LTD's holdings in NetEase were worth $25,824,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its stake in shares of NetEase by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company's stock valued at $246,000 after buying an additional 107 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its position in shares of NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company's stock valued at $31,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp boosted its position in NetEase by 1.9% during the 2nd quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company's stock worth $732,000 after acquiring an additional 146 shares during the period. State Street Corp raised its stake in shares of NetEase by 0.3% during the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company's stock worth $5,305,000 after purchasing an additional 156 shares in the last quarter. Finally, Financial Advocates Investment Management raised its stake in shares of NetEase by 5.4% during the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company's stock worth $435,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NTES. Citigroup boosted their price target on NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Barclays reduced their price target on NetEase from $104.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, August 26th. Benchmark lowered their target price on NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. Bank of America reduced 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, Jefferies Financial Group lowered their target price on NetEase from $126.00 to $103.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $107.29.

NetEase Price Performance

Shares of NASDAQ NTES traded down $0.19 during mid-day trading on Wednesday, hitting $96.29. 388,713 shares of the company's stock traded hands, compared to its average volume of 1,729,808. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The company has a market capitalization of $61.83 billion, a P/E ratio of 16.15, a PEG ratio of 3.37 and a beta of 0.57. The company's 50-day moving average is $85.99 and its two-hundred day moving average is $87.74.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.435 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.81%. NetEase's dividend payout ratio is currently 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.