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Ninety One SA PTY Ltd Grows Position in NetEase, Inc. (NASDAQ:NTES)

NetEase logo with Computer and Technology background

Ninety One SA PTY Ltd boosted its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 1,141.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,513 shares of the technology company's stock after acquiring an additional 53,799 shares during the quarter. NetEase accounts for about 1.1% of Ninety One SA PTY Ltd's investment portfolio, making the stock its 25th largest position. Ninety One SA PTY Ltd's holdings in NetEase were worth $6,023,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its stake in NetEase by 38.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,600 shares of the technology company's stock worth $1,297,000 after acquiring an additional 3,500 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of NetEase by 2.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 27,284 shares of the technology company's stock valued at $2,808,000 after purchasing an additional 721 shares during the last quarter. TD Private Client Wealth LLC bought a new position in shares of NetEase during the 1st quarter valued at about $65,000. Envestnet Asset Management Inc. increased its position in shares of NetEase by 16.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 74,500 shares of the technology company's stock valued at $7,668,000 after purchasing an additional 10,757 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of NetEase by 400.9% during the 1st quarter. Penserra Capital Management LLC now owns 17,717 shares of the technology company's stock valued at $1,823,000 after purchasing an additional 14,180 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Trading Up 0.5%

NASDAQ NTES traded up $0.70 on Friday, hitting $128.28. The company's stock had a trading volume of 149,234 shares, compared to its average volume of 1,474,880. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $135.32. The company's 50-day simple moving average is $124.25 and its 200 day simple moving average is $108.17. The firm has a market cap of $81.27 billion, a P/E ratio of 18.45, a PEG ratio of 4.54 and a beta of 0.69.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analyst Weigh In

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

View Our Latest Report on NetEase

NetEase Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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