Segantii Capital Management Ltd Sells 17,733 Shares of NetEase, Inc. (NASDAQ:NTES)

Segantii Capital Management Ltd lowered its stake in NetEase, Inc. (NASDAQ:NTES) by 30.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the technology company’s stock after selling 17,733 shares during the quarter. Segantii Capital Management Ltd’s holdings in NetEase were worth $3,601,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in NetEase by 451.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock worth $47,647,000 after purchasing an additional 418,677 shares during the period. WT Asset Management Ltd increased its position in NetEase by 381.1% during the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after buying an additional 789,499 shares in the last quarter. FDx Advisors Inc. boosted its holdings in shares of NetEase by 11.6% in the third quarter. FDx Advisors Inc. now owns 8,352 shares of the technology company’s stock worth $837,000 after buying an additional 871 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of NetEase during the third quarter worth $12,017,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of NetEase during the 3rd quarter valued at about $1,102,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NTES. HSBC decreased their price target on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Morgan Stanley cut their target price on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Finally, StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $126.00.

NetEase Stock Up 1.9 %

NASDAQ NTES traded up $1.86 during trading hours on Thursday, hitting $98.49. The company had a trading volume of 1,015,685 shares, compared to its average volume of 1,714,736. NetEase, Inc. has a fifty-two week low of $80.79 and a fifty-two week high of $118.89. The firm has a market cap of $63.50 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 0.94 and a beta of 0.58. The business has a fifty day simple moving average of $100.76 and a 200-day simple moving average of $102.59.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.20). The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. Equities analysts forecast that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $1.08 dividend. This is a positive change from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a yield of 4.39%. The ex-dividend date was Wednesday, March 13th. NetEase’s payout ratio is presently 67.93%.

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.