Man Group plc Purchases 350,578 Shares of NetEase, Inc. (NASDAQ:NTES)

Man Group plc grew its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 98.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 708,268 shares of the technology company's stock after purchasing an additional 350,578 shares during the quarter. Man Group plc owned about 0.11% of NetEase worth $63,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of NetEase by 7.9% during the 3rd quarter. Franklin Resources Inc. now owns 6,915 shares of the technology company's stock worth $588,000 after purchasing an additional 507 shares during the last quarter. Retireful LLC acquired a new position in shares of NetEase during the 4th quarter worth about $222,000. Brooklyn Investment Group acquired a new position in shares of NetEase during the 4th quarter worth about $34,000. UMB Bank n.a. lifted its position in shares of NetEase by 33.3% during 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. Finally, Guinness Asset Management LTD lifted its position in shares of NetEase by 0.9% during the 4th quarter. Guinness Asset Management LTD now owns 87,521 shares of the technology company's stock worth $7,808,000 after purchasing an additional 780 shares during the last quarter. Institutional investors own 11.07% of the company's stock.

NetEase Price Performance

Shares of NetEase stock traded down $3.18 during trading on Friday, hitting $119.58. 2,015,657 shares of the company's stock traded hands, compared to its average volume of 1,600,800. The firm's fifty day moving average price is $102.66 and its 200 day moving average price is $97.21. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $123.56. The company has a market cap of $75.76 billion, a PE ratio of 18.77, a PEG ratio of 3.37 and a beta of 0.66.

NetEase (NASDAQ:NTES - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. As a group, equities research analysts anticipate that NetEase, Inc. will post 6.91 earnings per share for the current year.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a dividend of $0.435 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.74 annualized dividend and a dividend yield of 1.46%. NetEase's dividend payout ratio (DPR) is currently 38.85%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NTES. Morgan Stanley boosted their price objective on NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 price target on the stock. Barclays raised their price target on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Benchmark raised their price target on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, NetEase presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.14.

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.