NetEase, Inc. (NASDAQ:NTES) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 22.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,232 shares of the technology company's stock after selling 8,459 shares during the quarter. Rhumbline Advisers' holdings in NetEase were worth $3,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after purchasing an additional 152 shares during the last quarter. Live Oak Investment Partners acquired a new stake in NetEase during the fourth quarter worth about $62,000. SBI Securities Co. Ltd. acquired a new stake in NetEase during the fourth quarter worth about $110,000. Toronto Dominion Bank acquired a new stake in NetEase during the fourth quarter worth about $145,000. Finally, Empowered Funds LLC acquired a new stake in NetEase during the fourth quarter worth about $174,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. JPMorgan Chase & Co. upped their price target on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Barclays upped their price target on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Benchmark upped their price target on NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, NetEase has an average rating of "Buy" and a consensus target price of $119.38.

NetEase Price Performance

Shares of NASDAQ NTES opened at $129.38 on Monday. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $133.80. The business has a 50-day moving average of $112.32 and a 200-day moving average of $103.21. The company has a market capitalization of $81.97 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 3.37 and a beta of 0.67.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, May 30th. NetEase's dividend payout ratio is currently 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.

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