Mawer Investment Management Ltd. Sells 32,831 Shares of NetEase, Inc. (NASDAQ:NTES)

Key Points

• Mawer Investment Management Ltd. reduced its stake in NetEase, Inc. by 4.7% in the first quarter, owning 668,811 shares valued at approximately $68.8 million after selling 32,831 shares.
• Institutional investors now hold 11.07% of NetEase’s stock, with several firms making significant changes to their positions, including Mather Group, which increased its stake by 1,415%.
• Equities research analysts have mixed ratings on NetEase, with a consensus rating of "Moderate Buy" and a price target of $120.00, indicating potential for growth amid varied performance assessments.

Mawer Investment Management Ltd. reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 668,811 shares of the technology company's stock after selling 32,831 shares during the quarter. Mawer Investment Management Ltd. owned about 0.11% of NetEase worth $68,834,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mackenzie Financial Corp bought a new position in NetEase in the first quarter valued at approximately $8,228,000. Nkcfo LLC bought a new position in NetEase in the first quarter valued at approximately $720,000. Ridgewood Investments LLC boosted its stake in NetEase by 4.2% in the first quarter. Ridgewood Investments LLC now owns 13,733 shares of the technology company's stock valued at $1,362,000 after acquiring an additional 558 shares during the last quarter. RWC Asset Management LLP bought a new position in NetEase in the first quarter valued at approximately $1,233,000. Finally, RWC Asset Advisors US LLC bought a new position in NetEase in the first quarter valued at approximately $2,344,000. 11.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

NTES has been the topic of a number of recent research reports. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $135.00 to $140.00 in a report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a report on Monday, May 12th. They issued a "buy" rating and a $130.00 target price on the stock. Finally, Barclays increased their target price on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

NetEase Stock Down 2.4%

Shares of NASDAQ:NTES traded down $3.15 during midday trading on Friday, reaching $127.16. 476,722 shares of the company were exchanged, compared to its average volume of 1,255,104. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45. The stock has a fifty day simple moving average of $130.65 and a two-hundred day simple moving average of $112.63. The firm has a market cap of $80.56 billion, a PE ratio of 18.31, a P/E/G ratio of 4.52 and a beta of 0.69.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, May 30th. NetEase's dividend payout ratio (DPR) is 38.71%.

NetEase Company Profile

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.