Ping Capital Management Inc. Sells 2,500 Shares of NetEase, Inc. (NASDAQ:NTES)

Ping Capital Management Inc. lessened its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 45.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,000 shares of the technology company's stock after selling 2,500 shares during the quarter. Ping Capital Management Inc.'s holdings in NetEase were worth $309,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Mather Group LLC. raised its position in shares of NetEase by 1,415.0% in the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after buying an additional 283 shares during the last quarter. Farther Finance Advisors LLC grew its stake in NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after acquiring an additional 152 shares during the period. TD Private Client Wealth LLC purchased a new position in shares of NetEase during the 1st quarter worth $65,000. Toronto Dominion Bank purchased a new stake in NetEase in the 4th quarter valued at about $145,000. Finally, Bear Mountain Capital Inc. acquired a new position in shares of NetEase in the 1st quarter valued at $194,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NTES shares. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. raised their price objective on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Barclays increased their price objective on shares of 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 began coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 target price on the stock. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $119.38.

NetEase Trading Up 2.2%

NTES stock traded up $2.93 during trading on Friday, hitting $136.12. 636,920 shares of the stock traded hands, compared to its average volume of 1,464,312. NetEase, Inc. has a one year low of $75.85 and a one year high of $136.88. The company has a 50 day simple moving average of $127.23 and a 200 day simple moving average of $110.01. The stock has a market cap of $86.24 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 4.74 and a beta of 0.69.

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's payout ratio is presently 38.71%.

NetEase Profile

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.