Carrhae Capital LLP Purchases 237,410 Shares of NetEase, Inc. $NTES

Key Points

• Carrhae Capital sharply increased its NetEase position by purchasing 237,410 shares in the second quarter, bringing its holdings to 306,577 shares valued at approximately $39.3 million. Institutional investors and hedge funds collectively own 11.07% of NetEase.
• NetEase shares recently traded at $119.45, near the lower end of their 52-week range, while the company announced a quarterly dividend of $0.48 per share, equivalent to a 1.6% annualized yield.
• Analyst sentiment remains positive overall, with seven Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $160.57, despite some recent rating downgrades.

Carrhae Capital LLP boosted its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 343.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 306,577 shares of the technology company's stock after buying an additional 237,410 shares during the quarter. NetEase makes up about 1.1% of Carrhae Capital LLP's holdings, making the stock its 18th biggest position. Carrhae Capital LLP's holdings in NetEase were worth $39,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTES. Arkadios Wealth Advisors increased its stake in shares of NetEase by 5.9% in the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company's stock worth $256,000 after purchasing an additional 103 shares during the period. Cookson Peirce & Co. Inc. increased its position in NetEase by 2.2% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company's stock worth $683,000 after buying an additional 106 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of NetEase by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company's stock worth $87,000 after buying an additional 107 shares during the last quarter. Mission Wealth Management LP boosted its position in shares of NetEase by 4.4% in the second quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company's stock valued at $337,000 after acquiring an additional 110 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in shares of NetEase by 0.5% in the fourth quarter. Vontobel Holding Ltd. now owns 21,075 shares of the technology company's stock worth $2,900,000 after acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Stock Up 0.1%

NTES traded up $0.16 during trading on Tuesday, reaching $119.45. 1,004,112 shares of the company's stock were exchanged, compared to its average volume of 878,746. The company has a market capitalization of $76.48 billion, a P/E ratio of 16.45, a PEG ratio of 1.38 and a beta of 0.72. The business has a 50 day moving average price of $126.61 and a 200 day moving average price of $120.50. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 3rd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.6%. NetEase's payout ratio is presently 26.31%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NTES shares. Wall Street Zen cut shares of NetEase from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research report on Wednesday, July 1st. Sanford C. Bernstein reiterated an "outperform" rating and issued a $160.00 target price on shares of NetEase in a research note on Friday, August 21st. Nomura lifted their target price on NetEase from $155.00 to $157.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Finally, Weiss Ratings lowered NetEase from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, NetEase presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.57.

Insider Activity

In related news, General Counsel William Jr sold 10,000 shares of the stock in a transaction dated 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 owned 12,223 shares of the company's stock, valued at $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. The SEC filing for this sale provides additional information. Corporate insiders own 54.70% of the company's stock.

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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