10,042 NetEase, Inc. $NTES Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management reduced its NetEase stake by 8.9% in the third quarter, selling 10,042 shares and retaining 103,279 shares valued at approximately $12.5 million.
• Other institutions made mixed moves, including new purchases by Perpetual and Euro Pacific Asset Management; institutional investors and hedge funds collectively own 11.07% of NetEase, while insiders own 54.70%.
• NetEase has a “Moderate Buy” consensus rating with an average price target of $159.86, while shares recently traded near $118.61. The company cut its quarterly dividend to $0.48, equivalent to an annualized $1.92 and a 1.6% yield.

Robeco Institutional Asset Management B.V. reduced its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 103,279 shares of the technology company's stock after selling 10,042 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in NetEase were worth $12,513,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. TD Waterhouse Canada Inc. increased its position in shares of NetEase by 3.3% during the third quarter. TD Waterhouse Canada Inc. now owns 5,301 shares of the technology company's stock valued at $639,000 after acquiring an additional 171 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in shares of NetEase during the 3rd quarter worth approximately $718,000. Euro Pacific Asset Management LLC purchased a new position in shares of NetEase during the 3rd quarter worth approximately $1,400,000. Perpetual Ltd purchased a new position in shares of NetEase during the 3rd quarter worth approximately $24,089,000. Finally, QRG Capital Management Inc. increased its holdings in NetEase by 23.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,468 shares of the technology company's stock valued at $1,213,000 after purchasing an additional 1,804 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Insider Activity

In other news, VP Aileen Mo sold 716 shares of NetEase stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total value of $86,378.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 54.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings lowered NetEase from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Wall Street Zen cut NetEase from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Zacks Research cut NetEase from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $163.00 price objective on shares of NetEase in a report on Monday, September 28th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.86.

NetEase Trading Down 0.1%

Shares of NASDAQ NTES opened at $118.61 on Friday. The stock has a market cap of $75.94 billion, a P/E ratio of 16.34, a PEG ratio of 1.39 and a beta of 0.68. The business's fifty day simple moving average is $120.91 and its 200-day simple moving average is $121.61. NetEase, Inc. has a 12-month low of $106.06 and a 12-month high of $149.11.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.6%. This is a decrease from NetEase's previous quarterly dividend of $0.72. NetEase's dividend payout ratio is 26.31%.

About NetEase

NetEase, Inc is a China-based internet and technology company founded in 1997 by William Ding. The company develops and operates online games for personal computers and mobile devices, serving players in China and international markets.

NetEase Games is the company's primary business and offers original titles such as Fantasy Westward Journey, Justice, and Identity V, along with games developed through partnerships and international studios. NetEase also publishes and distributes games in overseas markets through its global operations.

Beyond gaming, NetEase operates NetEase Cloud Music, an online music streaming and social platform, and Youdao, which provides educational technology, learning tools, and related content and services.

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