RWC Asset Advisors US LLC Makes New $2.34 Million Investment in NetEase, Inc. (NASDAQ:NTES)

Key Points

• RWC Asset Advisors US LLC acquired 22,779 shares of NetEase, Inc., valued at approximately $2.34 million, making it the firm's 14th largest position.
• Institutional investors own about 11.07% of NetEase, with several hedge funds, including Mirae Asset Global Investments and Invesco, significantly increasing their positions in the company.
• Analysts have upgraded NetEase's stock rating, with a consensus price target of $119.38, reflecting a positive outlook on its market performance.

RWC Asset Advisors US LLC bought a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,779 shares of the technology company's stock, valued at approximately $2,344,000. NetEase comprises approximately 0.4% of RWC Asset Advisors US LLC's investment portfolio, making the stock its 14th largest holding.

Several other large investors have also bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. grew its holdings in NetEase by 20.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock worth $894,000 after acquiring an additional 1,495 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of NetEase during the 1st quarter worth approximately $398,000. Concurrent Investment Advisors LLC lifted its position in shares of NetEase by 5.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock worth $264,000 after buying an additional 132 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of NetEase by 10,192.0% during the 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock worth $265,000 after buying an additional 2,548 shares in the last quarter. Finally, Pine Haven Investment Counsel Inc bought a new stake in shares of NetEase in the 1st quarter worth approximately $206,000. 11.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of analyst reports. Barclays boosted their target price on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. Finally, JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $135.00 to $140.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, NetEase has an average rating of "Moderate Buy" and an average price target of $120.00.

NetEase Stock Down 0.3%

Shares of NASDAQ:NTES traded down $0.35 during midday trading on Tuesday, hitting $131.53. 751,235 shares of the stock traded hands, compared to its average volume of 1,269,945. The stock has a market capitalization of $83.34 billion, a PE ratio of 18.93, a P/E/G ratio of 4.70 and a beta of 0.69. The business's 50 day moving average is $130.01 and its two-hundred day moving average is $112.12. NetEase, Inc. has a one year low of $75.85 and a one year high of $141.45.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's payout ratio is currently 38.71%.

NetEase Company 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.