113,580 Shares in NetEase, Inc. (NASDAQ:NTES) Bought by Woodline Partners LP

Woodline Partners LP acquired a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 113,580 shares of the technology company's stock, valued at approximately $10,132,000.

Several other hedge funds also recently modified their holdings of the business. Farther Finance Advisors LLC lifted its position 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. raised its stake in NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock worth $40,000 after acquiring an additional 111 shares in the last quarter. Live Oak Investment Partners acquired a new position in NetEase during the fourth quarter worth $62,000. Avior Wealth Management LLC raised its stake in NetEase by 148.9% during the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company's stock worth $89,000 after acquiring an additional 594 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in NetEase during the fourth quarter worth $110,000. 11.07% of the stock is owned by institutional investors.

NetEase Trading Down 0.0%

Shares of NASDAQ:NTES traded down $0.00 during trading on Wednesday, hitting $124.29. 509,555 shares of the company were exchanged, compared to its average volume of 1,571,630. The stock has a market cap of $78.75 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 3.37 and a beta of 0.66. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $125.96. The firm has a fifty day moving average price of $105.22 and a two-hundred day moving average price of $99.20.

NetEase Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, June 13th. Investors 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 payout ratio is presently 38.71%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Morgan Stanley raised their target price on NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Barclays lifted their price objective on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $119.38.

About NetEase

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.