Amundi Cuts Holdings in NetEase, Inc. $NTES

Amundi trimmed its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,561 shares of the technology company's stock after selling 17,963 shares during the quarter. Amundi owned 0.05% of NetEase worth $43,127,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NTES. Brighton Jones LLC raised its position in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after purchasing an additional 117 shares during the period. Strs Ohio acquired a new stake in shares of NetEase in the first quarter valued at about $63,000. EverSource Wealth Advisors LLC raised its holdings in shares of NetEase by 106.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company's stock valued at $73,000 after buying an additional 280 shares during the period. First Trust Advisors LP raised its holdings in shares of NetEase by 287.4% during the 2nd quarter. First Trust Advisors LP now owns 91,571 shares of the technology company's stock valued at $12,324,000 after buying an additional 67,934 shares during the period. Finally, Walleye Capital LLC lifted its position in NetEase by 670.9% during the 2nd quarter. Walleye Capital LLC now owns 5,265 shares of the technology company's stock worth $709,000 after acquiring an additional 4,582 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Stock Performance

NASDAQ:NTES opened at $115.63 on Friday. The company has a market capitalization of $74.03 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.34 and a beta of 0.72. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The stock has a 50-day simple moving average of $126.10 and a 200 day simple moving average of $120.46.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.92 annualized dividend and a yield of 1.7%. NetEase's dividend payout ratio (DPR) is 26.31%.

Analyst Upgrades and Downgrades

NTES has been the subject of a number of recent analyst reports. Nomura raised their price target on shares of NetEase from $155.00 to $157.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. Weiss Ratings cut shares of NetEase from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. Morgan Stanley restated an "overweight" rating and set a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Wall Street Zen lowered NetEase from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Zacks Research cut NetEase from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NetEase presently has a consensus rating of "Moderate Buy" and an average price target of $160.57.

Insiders Place Their Bets

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the sale, the general counsel directly owned 12,223 shares of the company's stock, 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 is available at the SEC website. Also, VP Aileen Mo sold 716 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total transaction of $86,378.24. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 54.70% of the company's stock.

NetEase Profile

NetEase, Inc is a Chinese internet and technology company that develops and operates online games, digital content services and other internet-related products. Founded in 1997 by Ding Lei, the company has grown into a global developer and publisher of games for personal computers and mobile devices.

NetEase Games is the company's primary business and offers original titles across genres including role-playing, strategy, action and competitive gaming. The company also publishes games through partnerships with international developers and operates game studios in China and overseas.

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