Cubist Systematic Strategies LLC Buys New Shares in NetEase, Inc. $NTES

Key Points

• Cubist Systematic Strategies LLC has acquired a new stake in NetEase, purchasing 24,818 shares valued at approximately $2.554 million in the first quarter.
• Wall Street analysts have mixed ratings on NetEase, with a consensus rating of "Moderate Buy" and a target price averaging around $128.78.
• NetEase recently announced a quarterly dividend of $0.675 per share, reflecting a dividend yield of 2.0% and a payout ratio of 30.72%.

Cubist Systematic Strategies LLC bought a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 24,818 shares of the technology company's stock, valued at approximately $2,554,000.

A number of other hedge funds have also added to or reduced their stakes in NTES. Kayne Anderson Rudnick Investment Management LLC bought a new position in NetEase in the first quarter valued at $26,000. Mather Group LLC. grew its position in NetEase by 1,415.0% in the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after purchasing an additional 283 shares in the last quarter. TD Private Client Wealth LLC bought a new position in NetEase in the first quarter valued at $65,000. Farther Finance Advisors LLC grew its position in NetEase by 191.7% in the first quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock valued at $105,000 after purchasing an additional 648 shares in the last quarter. Finally, Allianz SE bought a new position in NetEase in the first quarter valued at $110,000. Institutional investors own 11.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays set a $120.00 target price on shares of NetEase and gave the company an "equal weight" rating in a research report on Monday, August 18th. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $135.00 to $140.00 in a research report on Monday, July 28th. Finally, Zacks Research downgraded shares of NetEase from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, NetEase has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

NetEase Stock Performance

Shares of NTES stock opened at $134.27 on Friday. The company has a market capitalization of $85.07 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.78 and a beta of 0.67. The company has a 50-day simple moving average of $132.85 and a 200 day simple moving average of $117.99. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $141.45.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.70 annualized dividend and a dividend yield of 2.0%. NetEase's payout ratio is presently 30.72%.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.

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