Twinbeech Capital LP Reduces Stake in NetEase, Inc. (NASDAQ:NTES)

Twinbeech Capital LP decreased its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 82.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,855 shares of the technology company's stock after selling 83,989 shares during the period. Twinbeech Capital LP's holdings in NetEase were worth $1,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after purchasing an additional 152 shares during the period. UMB Bank n.a. grew its stake in NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock valued at $40,000 after purchasing an additional 111 shares during the last quarter. Live Oak Investment Partners purchased a new position in NetEase in the fourth quarter valued at about $62,000. Avior Wealth Management LLC grew its stake in NetEase by 148.9% in the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company's stock valued at $89,000 after purchasing an additional 594 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in NetEase in the fourth quarter worth about $110,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Stock Performance

Shares of NTES traded up $3.08 during trading hours on Tuesday, hitting $122.83. 471,200 shares of the stock were exchanged, compared to its average volume of 1,571,733. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $123.71. The company has a market cap of $77.82 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 3.37 and a beta of 0.66. The stock's 50-day moving average price is $104.73 and its two-hundred day moving average price is $99.02.

NetEase Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.675 per share. The ex-dividend date of this dividend is Friday, May 30th. NetEase's payout ratio is 38.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NTES shares. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a report on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Benchmark boosted their price target on NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, February 21st. Morgan Stanley boosted their price objective on NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Barclays boosted their price objective on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NetEase currently has a consensus rating of "Buy" and a consensus price target of $119.38.

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.