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

Envestnet Asset Management Inc. lessened its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 63.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,354 shares of the technology company’s stock after selling 77,662 shares during the quarter. Envestnet Asset Management Inc.’s holdings in NetEase were worth $4,385,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NTES. Arrowstreet Capital Limited Partnership increased its holdings in shares of NetEase by 90.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,017,159 shares of the technology company’s stock valued at $89,958,000 after acquiring an additional 484,345 shares during the period. CI Private Wealth LLC acquired a new position in shares of NetEase in the 4th quarter valued at $21,557,000. Laurion Capital Management LP increased its holdings in shares of NetEase by 2,719.7% in the 4th quarter. Laurion Capital Management LP now owns 257,020 shares of the technology company’s stock valued at $18,667,000 after acquiring an additional 247,905 shares during the period. Man Group plc increased its holdings in shares of NetEase by 48.8% in the 4th quarter. Man Group plc now owns 753,909 shares of the technology company’s stock valued at $54,756,000 after acquiring an additional 247,116 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of NetEase by 4,887.2% in the 1st quarter. Renaissance Technologies LLC now owns 234,400 shares of the technology company’s stock valued at $21,023,000 after acquiring an additional 229,700 shares during the period. Hedge funds and other institutional investors own 11.78% of the company’s stock.

NetEase Price Performance

Shares of NASDAQ NTES opened at $118.47 on Tuesday. The firm has a market capitalization of $76.38 billion, a P/E ratio of 20.46, a PEG ratio of 1.12 and a beta of 0.56. NetEase, Inc. has a one year low of $63.25 and a one year high of $118.89. The company’s fifty day moving average is $105.51 and its two-hundred day moving average is $100.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.91 and a current ratio of 2.93.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, November 16th. The technology company reported $13.30 EPS for the quarter, topping the consensus estimate of $10.87 by $2.43. The company had revenue of $27.27 billion for the quarter, compared to analyst estimates of $27.26 billion. NetEase had a net margin of 26.21% and a return on equity of 23.33%. The business’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. Analysts forecast that NetEase, Inc. will post 6.26 EPS for the current fiscal year.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.495 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.98 annualized dividend and a dividend yield of 1.67%. NetEase’s payout ratio is currently 36.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NTES. Citigroup cut their target price on shares of NetEase from $134.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, August 25th. Benchmark lifted their target price on shares of NetEase from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of NetEase from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, August 29th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Bank of America boosted their price objective on shares of NetEase from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $126.00.

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.