NetEase, Inc. $NTES Stock: Ninety One UK Ltd Reduces Position

Key Points

• Ninety One UK Ltd. cut its NetEase position by 7.3% in the third quarter, selling 456,877 shares and retaining 5.79 million shares valued at approximately $701.5 million. Institutional investors collectively own 11.07% of NetEase.
• NetEase shares recently traded at $127.10, with a market capitalization of $81.38 billion and a 52-week range of $106.06 to $153.54. Analysts maintain a “Moderate Buy” consensus with an average price target of $159.86.
• The company reduced its quarterly dividend to $0.48 per share from $0.72, implying an annualized dividend of $1.92 and a 1.5% yield. An executive also sold 716 shares, while insiders own 54.70% of the stock.

Ninety One UK Ltd reduced its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,789,707 shares of the technology company's stock after selling 456,877 shares during the period. NetEase makes up about 1.6% of Ninety One UK Ltd's holdings, making the stock its 14th largest holding. Ninety One UK Ltd owned 0.90% of NetEase worth $701,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in NetEase by 25.2% during the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company's stock valued at $152,595,000 after acquiring an additional 274,500 shares in the last quarter. Bank of America Corp DE lifted its stake in NetEase by 111.4% in the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company's stock worth $148,356,000 after purchasing an additional 698,318 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NetEase by 16.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company's stock worth $120,697,000 after purchasing an additional 155,784 shares in the last quarter. Temasek Holdings Private Ltd boosted its holdings 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 purchasing an additional 238,386 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in NetEase by 64.2% in the 1st quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company's stock valued at $65,118,000 after purchasing an additional 227,433 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NetEase

In other news, VP Aileen Mo sold 716 shares of NetEase stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total transaction of $86,378.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 54.70% of the company's stock.

NetEase Stock Performance

NTES traded up $3.37 on Thursday, reaching $127.10. The company had a trading volume of 259,311 shares, compared to its average volume of 842,118. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $153.54. The company has a market cap of $81.38 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.47 and a beta of 0.68. The business has a 50 day simple moving average of $121.54 and a 200 day simple moving average of $121.10.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, September 3rd. This is a negative change from NetEase's previous quarterly dividend of $0.72. NetEase's payout ratio is currently 26.31%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of NetEase from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Sanford C. Bernstein reiterated an "outperform" rating and issued a $160.00 price objective on shares of NetEase in a research report on Friday, August 21st. Zacks Research lowered NetEase from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. BNP Paribas Exane initiated coverage on NetEase in a research note on Tuesday, September 22nd. They set an "outperform" rating and a $180.00 price objective for the company. Finally, Morgan Stanley restated an "overweight" rating and set a $163.00 target price on shares of NetEase in a research report on Monday, September 28th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.86.

NetEase Company Profile

NetEase, Inc NASDAQ: NTES is a China-based internet technology company founded in 1997 by William Ding, who serves as the company's chief executive officer and director. The company develops and operates online services for consumers in China and international markets.

NetEase's primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.