NetEase, Inc. $NTES Holdings Raised by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its stake in NetEase, Inc. by 94.7% during the first quarter, holding 5,387 shares now worth $554,000.
• Multiple institutional investors also raised their stakes in NetEase, with Mirae Asset Global Investments Co. increasing its position by 7,698.2%, now owning nearly 2.8 million shares valued at approximately $289.9 million.
• Analysts are optimistic about NetEase's growth, with the stock receiving a “strong-buy” rating from several firms, and an average target price of $128.78.

Bayforest Capital Ltd grew its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 94.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,387 shares of the technology company's stock after purchasing an additional 2,620 shares during the quarter. Bayforest Capital Ltd's holdings in NetEase were worth $554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after purchasing an additional 2,780,897 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of NetEase by 111.7% in the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock valued at $204,661,000 after acquiring an additional 1,049,023 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of NetEase by 54.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock worth $203,560,000 after purchasing an additional 697,192 shares during the period. Man Group plc grew its stake in shares of NetEase by 98.0% in the 4th quarter. Man Group plc now owns 708,268 shares of the technology company's stock valued at $63,185,000 after purchasing an additional 350,578 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in shares of NetEase during the first quarter worth $28,765,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Arete Research upgraded shares of NetEase to a "strong-buy" rating in a report on Wednesday, September 3rd. Barclays set a $120.00 price objective on shares of NetEase and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. Arete upgraded shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 price objective on the stock in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $128.78.

NetEase Trading Down 0.1%

Shares of NASDAQ NTES opened at $143.90 on Wednesday. The stock has a market cap of $91.17 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.92 and a beta of 0.67. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $145.09. The company has a 50 day simple moving average of $133.22 and a two-hundred day simple moving average of $118.66.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid a $0.675 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.9%. 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.

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