NetEase, Inc. $NTES Stock Position 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 raised 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 SEC. The fund owned 5,387 shares of the technology company's stock after purchasing an additional 2,620 shares during the period. Bayforest Capital Ltd's holdings in NetEase were worth $554,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after acquiring an additional 2,780,897 shares in the last quarter. Dodge & Cox increased its position in shares of NetEase by 5.8% in the first quarter. Dodge & Cox now owns 2,803,664 shares of the technology company's stock worth $288,553,000 after acquiring an additional 153,788 shares in the last quarter. Hhlr Advisors LTD. increased its position in shares of NetEase by 3.1% in the first quarter. Hhlr Advisors LTD. now owns 2,668,697 shares of the technology company's stock worth $274,662,000 after acquiring an additional 79,754 shares in the last quarter. Wellington Management Group LLP increased its position in shares of NetEase by 111.7% in the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock worth $204,661,000 after acquiring an additional 1,049,023 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of NetEase by 54.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock worth $203,560,000 after acquiring an additional 697,192 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Ratings Changes

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

NetEase Stock Performance

Shares of NetEase stock traded up $2.57 on Monday, reaching $155.37. 229,161 shares of the company were exchanged, compared to its average volume of 1,178,712. The company's 50-day moving average is $134.19 and its two-hundred day moving average is $119.83. The firm has a market cap of $98.44 billion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 2.04 and a beta of 0.67. NetEase, Inc. has a 1-year low of $75.88 and a 1-year high of $155.47.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were given a dividend of $0.675 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.70 annualized dividend and a dividend yield of 1.7%. NetEase's dividend payout ratio (DPR) is 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.