Erste Asset Management GmbH Takes $2.34 Million Position in NetEase, Inc. (NASDAQ:NTES)

Erste Asset Management GmbH bought a new position in NetEase, Inc. (NASDAQ:NTES) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,000 shares of the technology company’s stock, valued at approximately $2,340,000.

A number of other institutional investors have also recently bought and sold shares of NTES. Guinness Asset Management LTD lifted its holdings in shares of NetEase by 16.7% during the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after acquiring an additional 12,410 shares during the period. Assenagon Asset Management S.A. raised its position in NetEase by 65.8% in the second quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock worth $73,811,000 after purchasing an additional 306,500 shares in the last quarter. Legacy Capital Group California Inc. bought a new position in NetEase during the second quarter worth about $267,000. Assetmark Inc. lifted its stake in NetEase by 27.3% during the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock worth $3,597,000 after purchasing an additional 8,248 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in NetEase by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock valued at $54,502,000 after purchasing an additional 76,446 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group dropped their target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Benchmark dropped their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Bank of America reduced their target price 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. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. Finally, Citigroup lifted their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and an average target price of $107.29.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $88.87 on Tuesday. The business has a fifty day moving average of $85.61 and a 200-day moving average of $88.08. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $114.50. The firm has a market cap of $57.07 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 3.23 and a beta of 0.57.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, November 29th. NetEase’s payout ratio is presently 29.22%.

About NetEase

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.