Assetmark Inc. Buys 10,238 Shares of NetEase, Inc. $NTES

Key Points

• Assetmark Inc. increased its stake in NetEase by 7.8% in the first quarter, buying 10,238 additional shares and bringing its total holdings to 141,107 shares worth about $15.8 million.
• Insider selling was reported when General Counsel Paul William Boltz, Jr. sold 10,000 shares on June 29 for $1.283 million, reducing his direct ownership by 45%.
• NetEase’s stock and outlook show a mixed picture: shares opened at $131.29, the company recently paid a $0.72 quarterly dividend, and analysts currently rate it a “Moderate Buy” with an average price target of $158.38.

Assetmark Inc. lifted its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,107 shares of the technology company's stock after purchasing an additional 10,238 shares during the period. Assetmark Inc.'s holdings in NetEase were worth $15,796,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Allworth Financial LP grew its holdings in shares of NetEase by 15.2% during the 3rd quarter. Allworth Financial LP now owns 718 shares of the technology company's stock worth $109,000 after acquiring an additional 95 shares during the period. Arkadios Wealth Advisors lifted its position in NetEase by 5.9% during the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company's stock valued at $256,000 after buying an additional 103 shares during the period. Spire Wealth Management boosted its holdings in shares of NetEase by 31.3% during the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company's stock valued at $60,000 after buying an additional 104 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its holdings in shares of NetEase by 2.2% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company's stock valued at $683,000 after buying an additional 106 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of NetEase by 10.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company's stock worth $154,000 after buying an additional 108 shares during the period. Institutional investors own 11.07% of the company's stock.

Insider Activity

In other 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 54.70% of the stock is currently owned by insiders.

NetEase Price Performance

Shares of NTES opened at $131.29 on Monday. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55. The company has a market capitalization of $83.82 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72. The firm has a 50 day moving average of $123.13 and a 200 day moving average of $122.32.

NetEase Cuts Dividend

The business also recently announced 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. The ex-dividend date was Friday, June 5th. This represents a $2.88 annualized dividend and a yield of 2.2%. NetEase's dividend payout ratio is currently 38.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NTES shares. Morgan Stanley restated an "overweight" rating and issued a $158.00 price objective on shares of NetEase in a report on Tuesday, May 26th. Benchmark reissued a "buy" rating on shares of NetEase in a research report on Friday, May 22nd. Wall Street Zen downgraded NetEase from a "buy" rating to a "hold" rating in a research note on Monday, July 6th. The Goldman Sachs Group set a $169.00 price objective on NetEase in a research report on Wednesday, July 1st. Finally, Zacks Research upgraded NetEase from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $158.38.

NetEase Company 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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