Metavasi Capital LP Purchases New Stake in NetEase, Inc. $NTES

Key Points

• Metavasi Capital LP acquired a new stake in NetEase, purchasing 40,000 shares valued at approximately $4.1 million, which constitutes 2.6% of their overall holdings.
• Several institutional investors, including Royal Bank of Canada, have increased their stakes in NetEase, indicating growing interest in the company's stock.
• NetEase recently declared a quarterly dividend of $0.675, representing a 2.0% yield, with the ex-dividend date set for August 28th.

Metavasi Capital LP bought a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,000 shares of the technology company's stock, valued at approximately $4,117,000. NetEase comprises approximately 2.6% of Metavasi Capital LP's portfolio, making the stock its 14th largest position.

Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of NetEase by 20.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock worth $894,000 after acquiring an additional 1,495 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of NetEase in the first quarter worth approximately $398,000. Concurrent Investment Advisors LLC boosted its position in shares of NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock worth $264,000 after acquiring an additional 132 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of NetEase by 10,192.0% in the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock worth $265,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc acquired a new stake in shares of NetEase in the first quarter worth approximately $206,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on NTES. Arete Research upgraded shares of NetEase to a "strong-buy" rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. Zacks Research downgraded shares of NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Arete upgraded shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 price objective for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $128.78.

NetEase Stock Up 0.8%

Shares of NASDAQ NTES traded up $1.13 during trading on Friday, reaching $134.27. 378,788 shares of the stock were exchanged, compared to its average volume of 856,936. The business's 50-day moving average price is $132.85 and its 200 day moving average price is $117.99. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $141.45. The company has a market capitalization of $85.07 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.78 and a beta of 0.67.

NetEase Announces Dividend

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

NetEase 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.