Ping Capital Management Inc. cut its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 45.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the technology company's stock after selling 2,500 shares during the period. Ping Capital Management Inc.'s holdings in NetEase were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in NetEase by 7,698.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after buying an additional 2,780,897 shares during the last quarter. Invesco Ltd. boosted its stake in shares of NetEase by 88.0% during the 4th quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after acquiring an additional 1,107,363 shares during the period. Capital World Investors boosted its stake in shares of NetEase by 40.6% during the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after acquiring an additional 1,074,818 shares during the period. FIL Ltd boosted its stake in shares of NetEase by 160.2% during the 4th quarter. FIL Ltd now owns 1,668,359 shares of the technology company's stock worth $148,834,000 after acquiring an additional 1,027,102 shares during the period. Finally, Mawer Investment Management Ltd. bought a new position in shares of NetEase during the 4th quarter worth approximately $62,593,000. 11.07% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
NTES has been the topic of several research reports. Barclays upped their target price on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upped their target price on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 target price for the company. 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. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $119.38.
Check Out Our Latest Report on NetEase
NetEase Stock Performance
NASDAQ NTES traded up $1.42 on Monday, hitting $137.54. 183,189 shares of the stock traded hands, compared to its average volume of 1,459,232. The business's fifty day moving average is $127.23 and its two-hundred day moving average is $110.17. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $137.70. The firm has a market capitalization of $87.14 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 4.74 and a beta of 0.69.
NetEase Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, May 30th. NetEase's dividend payout ratio (DPR) is presently 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.
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