Temasek Holdings Private Ltd increased its holdings in NetEase, Inc. (NASDAQ:NTES – Free Report) by 50.7% during the first quarter, Holdings Channel reports. The firm owned 708,114 shares of the technology company’s stock after purchasing an additional 238,386 shares during the period. Temasek Holdings Private Ltd’s holdings in NetEase were worth $79,266,000 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 business. V Square Quantitative Management LLC bought a new position in shares of NetEase in the first quarter valued at $25,000. Atlas Capital Advisors Inc. bought a new stake in shares of NetEase during the 4th quarter worth $47,000. Harbour Investments Inc. grew its holdings in shares of NetEase by 7,480.0% in the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after acquiring an additional 374 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after acquiring an additional 372 shares during the last quarter. Finally, MidFirst Bank acquired a new position in shares of NetEase in the 4th quarter worth $57,000. 11.07% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have recently commented on NTES shares. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Morgan Stanley reissued an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Weiss Ratings upgraded NetEase from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research note on Wednesday, July 1st. Finally, Zacks Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.38.
NetEase Price Performance
Shares of NetEase stock opened at $129.55 on Wednesday. The firm has a market cap of $82.71 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 1.74 and a beta of 0.72. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55. The stock has a 50-day simple moving average of $123.74 and a 200-day simple moving average of $122.22.
NetEase Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, June 5th. NetEase’s dividend payout ratio (DPR) is presently 38.11%.
Insiders Place Their Bets
In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of the sale, the general counsel directly owned 12,223 shares in the company, valued at $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 54.70% of the company’s stock.
About NetEase
NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.
The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.
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