Alkeon Capital Management LLC trimmed its holdings in shares of NetEase Inc (NASDAQ:NTES) by 50.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,607 shares of the technology company’s stock after selling 205,000 shares during the period. Alkeon Capital Management LLC owned about 0.15% of NetEase worth $52,659,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Renaissance Group LLC increased its stake in shares of NetEase by 3.3% during the 2nd quarter. Renaissance Group LLC now owns 51,703 shares of the technology company’s stock worth $15,543,000 after purchasing an additional 1,656 shares in the last quarter. Aberdeen Asset Management PLC UK increased its stake in shares of NetEase by 64.7% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 72,450 shares of the technology company’s stock worth $21,781,000 after purchasing an additional 28,450 shares in the last quarter. Stifel Financial Corp increased its stake in shares of NetEase by 25.9% during the 2nd quarter. Stifel Financial Corp now owns 3,032 shares of the technology company’s stock worth $919,000 after purchasing an additional 624 shares in the last quarter. First Trust Advisors LP increased its stake in shares of NetEase by 9.5% during the 3rd quarter. First Trust Advisors LP now owns 319,517 shares of the technology company’s stock worth $84,292,000 after purchasing an additional 27,771 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its stake in shares of NetEase by 228.6% during the 3rd quarter. Fox Run Management L.L.C. now owns 2,300 shares of the technology company’s stock worth $607,000 after purchasing an additional 1,600 shares in the last quarter. 50.54% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on NTES shares. UBS cut shares of NetEase from a “buy” rating to a “neutral” rating in a research note on Monday, October 30th. ValuEngine cut shares of NetEase from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Nomura raised shares of NetEase from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $297.00 to $428.00 in a research note on Friday, November 17th. Zacks Investment Research raised shares of NetEase from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, Vetr cut shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $313.68 target price for the company. in a research note on Monday, November 6th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $327.05.
Shares of NetEase Inc (NASDAQ:NTES) opened at $344.77 on Tuesday. The company has a market cap of $42,471.79, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 1.80 and a beta of 0.93. NetEase Inc has a 12 month low of $211.11 and a 12 month high of $375.10.
NetEase announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, December 1st were paid a $0.717 dividend. The ex-dividend date was Thursday, November 30th. This represents a $2.87 annualized dividend and a yield of 0.83%. NetEase’s payout ratio is currently 25.09%.
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NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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