Penserra Capital Management LLC Buys 14,180 Shares of NetEase, Inc. (NASDAQ:NTES)

Penserra Capital Management LLC boosted its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 400.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,717 shares of the technology company's stock after acquiring an additional 14,180 shares during the period. Penserra Capital Management LLC's holdings in NetEase were worth $1,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NTES. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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. Invesco Ltd. raised its stake in shares of NetEase by 88.0% in the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after purchasing an additional 1,107,363 shares during the last quarter. Capital World Investors raised its stake in shares of NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after purchasing an additional 1,074,818 shares during the last quarter. FIL Ltd raised its stake in shares of NetEase by 160.2% in the fourth quarter. FIL Ltd now owns 1,668,359 shares of the technology company's stock worth $148,834,000 after purchasing an additional 1,027,102 shares during the last quarter. Finally, Mawer Investment Management Ltd. purchased a new stake in shares of NetEase in the fourth quarter worth approximately $62,593,000. Institutional investors own 11.07% of the company's stock.

NetEase Stock Performance

NASDAQ NTES traded down $2.97 on Thursday, hitting $127.29. 1,189,050 shares of the stock traded hands, compared to its average volume of 1,481,311. The business's fifty day moving average is $123.83 and its two-hundred day moving average is $107.92. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $135.32. The firm has a market capitalization of $80.65 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 4.64 and a beta of 0.69.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio (DPR) is 38.71%.

Analysts Set New Price Targets

NTES has been the subject of several analyst reports. Barclays increased their price objective on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft started coverage on NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective for the company. JPMorgan Chase & Co. increased their price target on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $119.38.

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.