NetEase, Inc. $NTES Shares Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its NetEase stake by 25.2% in the first quarter, buying 274,500 more shares and lifting its holdings to 1,363,188 shares valued at about $152.6 million.
• Other institutional investors also boosted positions in NTES, including UBS AM and several hedge funds, with 11.07% of the stock now owned by hedge funds and other institutional investors.
• Analysts remain generally constructive on NetEase, with a Moderate Buy consensus and an average price target of $158.38; the stock also recently paid a quarterly dividend of $0.72 per share, or $2.88 annualized.

Renaissance Technologies LLC increased its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,363,188 shares of the technology company's stock after acquiring an additional 274,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.22% of NetEase worth $152,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NetEase by 68,860.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company's stock valued at $1,299,684,000 after purchasing an additional 8,538,717 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in shares of NetEase during the 4th quarter worth about $44,214,000. Man Group plc lifted its stake in NetEase by 33.3% in the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company's stock valued at $132,313,000 after buying an additional 245,872 shares in the last quarter. Temasek Holdings Private Ltd lifted its stake in NetEase by 50.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company's stock valued at $79,266,000 after buying an additional 238,386 shares in the last quarter. Finally, Tiger Pacific Capital LP acquired a new stake in NetEase in the 3rd quarter worth about $28,993,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction on Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the transaction, the general counsel owned 12,223 shares in the company, valued at $1,568,210.90. The trade was a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 54.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on NTES. Benchmark reiterated a "buy" rating on shares of NetEase in a research note on Friday, May 22nd. Morgan Stanley reaffirmed an "overweight" rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Weiss Ratings raised NetEase from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. Finally, Zacks Research raised NetEase from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.38.

NetEase Stock Performance

NASDAQ:NTES opened at $119.55 on Friday. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The stock has a market cap of $76.54 billion, a PE ratio of 15.88, a P/E/G ratio of 1.56 and a beta of 0.72. The stock has a 50 day moving average price of $123.97 and a 200 day moving average price of $121.89.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. NetEase's dividend payout ratio (DPR) is 38.11%.

NetEase Company Profile

NetEase, Inc NASDAQ: NTES is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company's founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company's primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.

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