Caxton Associates LP Takes $248,000 Position in NetEase, Inc. (NASDAQ:NTES)

Caxton Associates LP acquired a new stake in NetEase, Inc. (NASDAQ:NTES) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,593 shares of the technology company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTES. Wellington Management Group LLP boosted its stake 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 valued at $176,677,000 after purchasing an additional 1,315,410 shares in the last quarter. Tairen Capital Ltd bought a new position in NetEase in the fourth quarter valued at about $164,307,000. Massachusetts Financial Services Co. MA grew its holdings in NetEase by 6.5% during the 2nd 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. Point72 Hong Kong Ltd increased its holdings in NetEase by 109.0% in the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after purchasing an additional 632,896 shares during the period. Finally, Capital International Investors raised its position 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. Institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 2.7 %

Shares of NTES opened at $93.58 on Friday. The company has a market capitalization of $60.09 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.78 and a beta of 0.54. The stock has a 50 day moving average of $85.36 and a 200 day moving average of $92.64. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43. The company had revenue of $25.49 billion during 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%. NetEase’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.75 earnings per share. As a group, equities research analysts predict that NetEase, Inc. will post 6.05 earnings per share for the current year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Friday, September 6th. NetEase’s payout ratio is 26.82%.

Analyst Upgrades and Downgrades

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

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.