First Trust Advisors LP Decreases Stake in NetEase, Inc. $NTES

by · The Markets Daily

First Trust Advisors LP cut its holdings in NetEase, Inc. (NASDAQ:NTES – Free Report) by 13.8% during the first quarter, Holdings Channel reports. The institutional investor owned 40,087 shares of the technology company’s stock after selling 6,420 shares during the period. First Trust Advisors LP’s holdings in NetEase were worth $4,487,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in NetEase in the first quarter valued at $25,000. Atlas Capital Advisors Inc. acquired a new stake in NetEase during the 4th quarter worth $47,000. Harbour Investments Inc. grew its holdings in shares of NetEase by 7,480.0% during the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after buying an additional 374 shares during the last quarter. Smartleaf Asset Management LLC grew its stake 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 valued at $51,000 after purchasing an additional 372 shares during the last quarter. Finally, MidFirst Bank purchased a new position in NetEase in the 4th quarter valued at $57,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction 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 transaction, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 54.70% of the company’s stock.

NetEase Price Performance

NTES opened at $130.60 on Wednesday. NetEase, Inc. has a 12 month low of $106.06 and a 12 month high of $159.55. The business has a 50-day moving average of $125.82 and a two-hundred day moving average of $121.11. The stock has a market capitalization of $83.62 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 1.70 and a beta of 0.73.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, June 5th. NetEase’s payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NTES. Weiss Ratings raised NetEase from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 20th. Benchmark reissued a “buy” rating on shares of NetEase in a report on Friday, May 22nd. The Goldman Sachs Group set a $169.00 target price on shares of NetEase in a research report on Wednesday, July 1st. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, NetEase has an average rating of “Moderate Buy” and a consensus price target of $158.38.

Read Our Latest Research Report on NetEase

NetEase Company Profile

(Free Report)

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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