Tairen Capital Ltd Cuts Stock Position in NetEase, Inc. (NASDAQ:NTES)

Tairen Capital Ltd trimmed its position in NetEase, Inc. (NASDAQ:NTES) by 99.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,560 shares of the technology company’s stock after selling 828,488 shares during the period. NetEase makes up approximately 0.0% of Tairen Capital Ltd’s holdings, making the stock its 24th biggest holding. Tairen Capital Ltd’s holdings in NetEase were worth $436,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its position 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 purchasing an additional 1,315,410 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of NetEase by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after acquiring an additional 103,102 shares during the last quarter. Capital International Investors grew its stake in shares of NetEase by 1.1% during 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 during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of NetEase during the first quarter valued at about $103,658,000. Finally, Lazard Asset Management LLC raised its position in shares of NetEase by 804.5% in the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after purchasing an additional 704,753 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTES. Barclays dropped their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Bank of America reduced their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a research note on Friday, July 5th. Finally, Jefferies Financial Group reduced their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.67.

NetEase Trading Down 0.7 %

Shares of NetEase stock opened at $78.90 on Monday. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $118.89. The firm has a market capitalization of $50.67 billion, a PE ratio of 12.23, a P/E/G ratio of 1.72 and a beta of 0.54. The firm’s 50-day moving average price is $85.89 and its 200 day moving average price is $93.01.

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

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.435 per share. The ex-dividend date was Friday, September 6th. This represents a $1.74 annualized dividend and a yield of 2.21%. NetEase’s dividend payout ratio (DPR) is presently 26.82%.

NetEase Company 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.