NetEase, Inc. (NASDAQ:NTES) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd reduced its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 98.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,278 shares of the technology company's stock after selling 1,192,045 shares during the period. Point72 Hong Kong Ltd's holdings in NetEase were worth $1,990,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. grew its holdings in shares of NetEase by 21.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,127 shares of the technology company's stock worth $413,000 after acquiring an additional 741 shares during the period. Mather Group LLC. raised its holdings in NetEase by 1,415.0% in the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after purchasing an additional 283 shares during the period. Guinness Atkinson Asset Management Inc raised its holdings in NetEase by 0.7% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company's stock worth $1,474,000 after purchasing an additional 110 shares during the period. Manning & Napier Advisors LLC purchased a new stake in NetEase in the 2nd quarter worth $4,115,000. Finally, OLD National Bancorp IN purchased a new position in shares of NetEase during the second quarter valued at about $363,000. 11.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on NTES. Bank of America lowered 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. Citigroup lifted their price objective on shares of NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a report on Friday, November 15th. StockNews.com raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday. Jefferies Financial Group dropped their price objective on shares of NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Finally, Benchmark decreased their target price on shares of NetEase from $120.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $107.29.

NetEase Stock Performance

NetEase stock traded up $1.15 during midday trading on Monday, hitting $88.63. 589,814 shares of the company's stock were exchanged, compared to its average volume of 1,728,959. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $114.50. The stock has a market cap of $56.91 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 3.23 and a beta of 0.57. The firm's 50 day simple moving average is $85.61 and its 200 day simple moving average is $88.08.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, November 29th. NetEase's dividend payout ratio (DPR) is 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.