Amundi Sells 7,643 Shares of NetEase, Inc. $NTES

Key Points

• Amundi reduced its NetEase stake by 2.1% in the first quarter, selling 7,643 shares and retaining 354,524 shares valued at approximately $39.7 million.
• Other major institutional investors, including UBS Asset Management, Renaissance Technologies, Dimensional Fund Advisors, Man Group and Morgan Stanley, increased their NetEase holdings. Institutions collectively own 11.07% of the stock.
• NetEase shares recently opened at $133.27, while analysts maintain a “Moderate Buy” consensus with an average price target of $158.38; the company pays a $2.88 annualized dividend, yielding about 2.2%.

Amundi lessened its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 354,524 shares of the technology company's stock after selling 7,643 shares during the period. Amundi owned 0.06% of NetEase worth $39,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NetEase by 68,860.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company's stock worth $1,299,684,000 after buying an additional 8,538,717 shares during the last quarter. Renaissance Technologies LLC boosted its stake in NetEase by 25.2% in the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company's stock valued at $152,595,000 after acquiring an additional 274,500 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in NetEase by 16.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company's stock valued at $120,697,000 after acquiring an additional 155,784 shares in the last quarter. Man Group plc grew its holdings in NetEase by 7.3% in the third quarter. Man Group plc now owns 1,055,122 shares of the technology company's stock worth $160,368,000 after purchasing an additional 71,966 shares during the last quarter. Finally, Morgan Stanley grew its holdings in NetEase by 25.4% in the fourth quarter. Morgan Stanley now owns 894,440 shares of the technology company's stock worth $123,093,000 after purchasing an additional 181,007 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was 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 $1,568,210.90. This trade represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 54.70% of the stock is currently owned by insiders.

NetEase Price Performance

Shares of NTES stock opened at $133.27 on Monday. The business has a fifty day moving average of $125.37 and a 200 day moving average of $121.24. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55. The firm has a market capitalization of $85.33 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.72.

NetEase Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NTES shares. Benchmark reiterated a "buy" rating on shares of NetEase in a report on Friday, May 22nd. Weiss Ratings upgraded NetEase from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, July 20th. Morgan Stanley reaffirmed an "overweight" rating and set a $158.00 target price on shares of NetEase in a research report on Tuesday, May 26th. Wall Street Zen downgraded NetEase from a "buy" rating to a "hold" rating in a report on Sunday. Finally, The Goldman Sachs Group set a $169.00 price target on NetEase in a research note on Wednesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $158.38.

NetEase Profile

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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