Envestnet Asset Management Inc. Lowers Position in NetEase, Inc. (NASDAQ:NTES)

Envestnet Asset Management Inc. cut its stake in NetEase, Inc. (NASDAQ:NTES – Get Rating) by 31.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,538 shares of the technology company’s stock after selling 18,085 shares during the quarter. Envestnet Asset Management Inc.’s holdings in NetEase were worth $2,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Credit Agricole S A grew its holdings in shares of NetEase by 71.6% in the third quarter. Credit Agricole S A now owns 4,641 shares of the technology company’s stock valued at $351,000 after acquiring an additional 1,936 shares in the last quarter. Seven Eight Capital LP grew its holdings in NetEase by 35.5% during the third quarter. Seven Eight Capital LP now owns 18,194 shares of the technology company’s stock valued at $1,375,000 after purchasing an additional 4,771 shares during the period. Greenwoods Asset Management Hong Kong Ltd. grew its holdings in NetEase by 16.5% during the third quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,561,839 shares of the technology company’s stock valued at $193,675,000 after purchasing an additional 362,619 shares during the period. Boston Partners grew its holdings in NetEase by 0.4% during the third quarter. Boston Partners now owns 59,968 shares of the technology company’s stock valued at $80,000 after purchasing an additional 259 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in NetEase by 22.5% during the third quarter. Edmond DE Rothschild Holding S.A. now owns 64,171 shares of the technology company’s stock valued at $4,851,000 after purchasing an additional 11,766 shares during the period. 13.50% of the stock is owned by institutional investors.

NetEase Price Performance

NetEase stock opened at $83.80 on Wednesday. NetEase, Inc. has a one year low of $53.09 and a one year high of $108.77. The business has a fifty day moving average price of $85.12 and a 200-day moving average price of $77.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.32 and a quick ratio of 2.30. The firm has a market capitalization of $54.87 billion, a P/E ratio of 18.42, a PEG ratio of 1.28 and a beta of 0.49.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Thursday, March 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.29%. NetEase’s dividend payout ratio (DPR) is presently 38.02%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NTES. TheStreet raised NetEase from a “c+” rating to a “b-” rating in a report on Wednesday, January 18th. Morgan Stanley increased their price objective on NetEase from $85.00 to $95.00 in a report on Wednesday, December 14th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 28th. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $100.00 in a report on Tuesday, February 28th. Finally, Citigroup raised their price target on NetEase from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $112.67.

About NetEase

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NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.