Penserra Capital Management LLC lifted its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 400.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,717 shares of the technology company's stock after purchasing an additional 14,180 shares during the period. Penserra Capital Management LLC's holdings in NetEase were worth $1,823,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in NTES. Brighton Jones LLC raised its stake in NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after buying an additional 117 shares during the period. US Bancorp DE grew its position in shares of NetEase by 14.4% in the fourth quarter. US Bancorp DE now owns 7,291 shares of the technology company's stock valued at $650,000 after purchasing an additional 918 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of NetEase by 58.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,853 shares of the technology company's stock valued at $344,000 after purchasing an additional 1,420 shares during the last quarter. Assetmark Inc. raised its holdings in NetEase by 2.8% in the 4th quarter. Assetmark Inc. now owns 39,555 shares of the technology company's stock valued at $3,529,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in NetEase in the 4th quarter valued at $2,192,000. 11.07% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. raised their target price on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Barclays lifted their price target on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $119.38.
View Our Latest Research Report on NetEase
NetEase Trading Up 0.5%
NTES traded up $0.70 during midday trading on Friday, reaching $128.28. The company's stock had a trading volume of 533,143 shares, compared to its average volume of 1,477,417. The firm has a market capitalization of $81.28 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 4.44 and a beta of 0.69. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $135.32. The stock's 50-day moving average is $124.63 and its 200-day moving average is $108.41.
NetEase Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, May 30th. NetEase's payout ratio is 38.71%.
NetEase Company Profile
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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.
Further Reading

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