Voloridge Investment Management LLC Lowers Position in NetEase, Inc. (NASDAQ:NTES)

Voloridge Investment Management LLC lowered its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 67.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 346,082 shares of the technology company's stock after selling 728,762 shares during the period. Voloridge Investment Management LLC owned 0.05% of NetEase worth $30,874,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTES. Farther Finance Advisors LLC boosted its holdings 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 acquiring an additional 152 shares in the last quarter. UMB Bank n.a. raised its position in shares of NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock worth $40,000 after purchasing an additional 111 shares during the last quarter. Live Oak Investment Partners bought a new position in NetEase in the 4th quarter worth about $62,000. Avior Wealth Management LLC grew its position in NetEase by 148.9% during the 4th 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. bought a new stake in NetEase during the 4th quarter valued at about $110,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NTES shares. Deutsche Bank Aktiengesellschaft initiated 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. Benchmark upped their price objective on NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Morgan Stanley lifted their target price on NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Barclays boosted their price target on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their price objective on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $119.38.

NetEase Stock Performance

Shares of NTES stock traded up $3.25 on Tuesday, reaching $123.00. The stock had a trading volume of 502,358 shares, compared to its average volume of 1,571,877. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $123.71. The stock has a market cap of $77.93 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 3.37 and a beta of 0.66. The company has a 50 day simple moving average of $104.73 and a 200 day simple moving average of $99.02.

NetEase Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.675 per share. The ex-dividend date is Friday, May 30th. NetEase's dividend payout ratio is currently 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.