Tidal Investments LLC Invests $4.39 Million in NetEase, Inc. $NTES

Key Points

• Tidal Investments purchased a new $4.39 million stake in NetEase, acquiring 34,301 shares during the second quarter. Institutional investors collectively own 11.07% of the company.
• Wall Street maintains a generally positive outlook, with seven Buy ratings and three Holds. NetEase has a “Moderate Buy” consensus rating and an average price target of $160.57.
• NetEase shares opened at $115.61, near the lower end of their 52-week range, while the company declared a quarterly dividend of $0.48 per share, equivalent to a 1.7% annual yield.

Tidal Investments LLC purchased a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 34,301 shares of the technology company's stock, valued at approximately $4,395,000.

Several other institutional investors have also recently bought and sold shares of NTES. Arkadios Wealth Advisors boosted its position in NetEase by 5.9% in the 4th quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company's stock valued at $256,000 after buying an additional 103 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its stake in shares of NetEase by 2.2% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company's stock valued at $683,000 after acquiring an additional 106 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in NetEase by 16.0% in the first quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company's stock valued at $87,000 after acquiring an additional 107 shares during the last quarter. Mission Wealth Management LP increased its position in NetEase by 4.4% in the second quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company's stock worth $337,000 after purchasing an additional 110 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in NetEase by 0.5% during the 4th quarter. Vontobel Holding Ltd. now owns 21,075 shares of the technology company's stock worth $2,900,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 11.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Benchmark reaffirmed a "buy" rating on shares of NetEase in a research note on Friday, May 22nd. Morgan Stanley reaffirmed an "overweight" rating and issued a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Wall Street Zen lowered shares of NetEase from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Finally, Nomura raised their price target on NetEase from $155.00 to $157.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.57.

NetEase Stock Performance

NASDAQ NTES opened at $115.61 on Monday. The stock has a market cap of $74.02 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.34 and a beta of 0.72. The business has a 50 day simple moving average of $125.87 and a 200 day simple moving average of $120.45. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 3rd will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 3rd. NetEase's dividend payout ratio (DPR) is presently 26.31%.

Insiders Place Their Bets

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the sale, the general counsel owned 12,223 shares of the company's stock, valued at $1,568,210.90. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Aileen Mo sold 716 shares of the business's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total value of $86,378.24. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 54.70% of the company's stock.

About NetEase

NetEase, Inc is a Chinese internet and technology company that develops and operates online games, digital content services and other internet-related products. Founded in 1997 by Ding Lei, the company has grown into a global developer and publisher of games for personal computers and mobile devices.

NetEase Games is the company's primary business and offers original titles across genres including role-playing, strategy, action and competitive gaming. The company also publishes games through partnerships with international developers and operates game studios in China and overseas.

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