NetEase, Inc. $NTES Shares Newly Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA acquired a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 248,786 shares of the technology company’s stock, valued at approximately $30,143,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE lifted its stake in shares of NetEase by 111.4% during the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock valued at $148,356,000 after buying an additional 698,318 shares in the last quarter. Renaissance Technologies LLC increased its stake in NetEase by 25.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock worth $152,595,000 after buying an additional 274,500 shares in the last quarter. Temasek Holdings Private Ltd increased its stake in NetEase by 50.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock worth $79,266,000 after buying an additional 238,386 shares in the last quarter. Carrhae Capital LLP increased its stake in NetEase by 343.2% in the 2nd quarter. Carrhae Capital LLP now owns 306,577 shares of the technology company’s stock worth $39,285,000 after buying an additional 237,410 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in NetEase by 64.2% during the first quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock valued at $65,118,000 after acquiring an additional 227,433 shares during the period. 11.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NetEase news, VP Aileen Mo sold 716 shares of NetEase stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total transaction of $86,378.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on NTES shares. Wall Street Zen downgraded NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a report on Monday, November 2nd. Zacks Research lowered shares of NetEase from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $163.00 target price on shares of NetEase in a report on Monday, September 28th. Finally, Nomura upped their price target on shares of NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NetEase has a consensus rating of “Moderate Buy” and a consensus price target of $159.86.

NetEase Price Performance

Shares of NTES opened at $128.03 on Wednesday. The firm has a market capitalization of $81.97 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.54 and a beta of 0.64. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $149.11. The company has a 50-day moving average of $119.93 and a 200 day moving average of $120.86.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.48 per share. This is a drop from NetEase’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.5%. NetEase’s dividend payout ratio is presently 26.31%.

About NetEase

NetEase, Inc. is a China-based internet technology company best known for developing and publishing online games. Its portfolio includes titles such as Fantasy Westward Journey and Identity V, as well as games for mobile and other platforms. The company serves players in China and international markets. NetEase also operates NetEase Cloud Music, a music streaming and social platform, and Youdao, which provides digital learning services and education technology products. Its businesses span game development and publishing, music, and online learning.