Renaissance Technologies LLC Purchases 114,400 Shares of NetEase, Inc. (NASDAQ:NTES)

Renaissance Technologies LLC lifted its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 18.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 724,900 shares of the technology company’s stock after purchasing an additional 114,400 shares during the period. Renaissance Technologies LLC owned 0.11% of NetEase worth $69,286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTES. Tairen Capital Ltd bought a new stake in shares of NetEase during the 4th quarter worth approximately $164,307,000. Wellington Management Group LLP raised its stake in shares of NetEase by 226.4% during 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. Price T Rowe Associates Inc. MD bought a new stake in shares of NetEase during the 1st quarter worth approximately $103,658,000. Lazard Asset Management LLC raised its stake in shares of NetEase by 804.5% during the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after purchasing an additional 704,753 shares in the last quarter. Finally, Aspex Management HK Ltd bought a new stake in shares of NetEase during the 4th quarter worth approximately $59,354,000. Institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

NTES has been the topic of a number of analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a research note on Friday, July 5th. Bank of America decreased their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Benchmark boosted their target price on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, Jefferies Financial Group decreased their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $112.67.

NetEase Price Performance

Shares of NASDAQ NTES opened at $76.78 on Tuesday. The stock’s fifty day moving average price is $87.02 and its two-hundred day moving average price is $93.83. NetEase, Inc. has a one year low of $75.85 and a one year high of $118.89. The firm has a market cap of $49.30 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 1.72 and a beta of 0.54.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 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 firm had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. During the same period in the prior year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, September 6th. NetEase’s dividend payout ratio is 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.