Caprock Group LLC Grows Position in NetEase, Inc. (NASDAQ:NTES)

Caprock Group LLC increased its position in NetEase, Inc. (NASDAQ:NTES) by 70.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,450 shares of the technology company’s stock after purchasing an additional 1,425 shares during the period. Caprock Group LLC’s holdings in NetEase were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of NetEase by 226.4% in the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock worth $176,677,000 after acquiring an additional 1,315,410 shares in the last quarter. Tairen Capital Ltd purchased a new position in NetEase during the fourth quarter valued at $164,307,000. Capital International Investors boosted its holdings in NetEase by 1.1% in the first quarter. Capital International Investors now owns 1,052,966 shares of the technology company’s stock worth $108,950,000 after acquiring an additional 11,729 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of NetEase in the first quarter worth $103,658,000. Finally, Lazard Asset Management LLC increased its holdings in shares of NetEase by 804.5% during the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after acquiring an additional 704,753 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Bank of America dropped their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Benchmark boosted their price objective on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a research report on Friday, July 5th. Barclays decreased their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Finally, Jefferies Financial Group dropped their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $112.67.

NetEase Price Performance

Shares of NTES opened at $77.18 on Friday. The firm has a market capitalization of $49.56 billion, a P/E ratio of 11.97, a PEG ratio of 1.71 and a beta of 0.54. NetEase, Inc. has a one year low of $75.85 and a one year high of $118.89. The business has a fifty day moving average of $87.61 and a 200 day moving average of $94.52.

NetEase (NASDAQ:NTES) last released its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The business had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. During the same period in the previous year, the company posted $1.75 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts expect that NetEase, Inc. will post 6.05 EPS for the current fiscal year.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.435 per share. The ex-dividend date is Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.25%. NetEase’s payout ratio is currently 26.82%.

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.