Cambridge Investment Research Advisors Inc. Reduces Stake in NetEase, Inc. (NASDAQ:NTES)

Cambridge Investment Research Advisors Inc. reduced its stake in NetEase, Inc. (NASDAQ:NTES) by 11.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,263 shares of the technology company’s stock after selling 539 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in NetEase were worth $439,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp grew its holdings in shares of NetEase by 2.7% during the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company’s stock worth $542,000 after purchasing an additional 138 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of NetEase by 81.7% during the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares during the period. Focus Financial Network Inc. grew its holdings in shares of NetEase by 5.6% during the 1st quarter. Focus Financial Network Inc. now owns 3,763 shares of the technology company’s stock worth $387,000 after purchasing an additional 200 shares during the period. Finally, Polar Capital Holdings Plc grew its holdings in shares of NetEase by 11.1% during the 4th quarter. Polar Capital Holdings Plc now owns 2,397 shares of the technology company’s stock worth $214,000 after purchasing an additional 240 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTES has been the subject of a number of research analyst reports. Barclays increased their price target on NetEase from $104.00 to $118.00 and gave the stock an “equal weight” rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft started coverage on NetEase in a report on Monday, May 12th. They set a “buy” rating and a $130.00 price target for the company. JPMorgan Chase & Co. raised their target price on NetEase from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Finally, Wall Street Zen upgraded NetEase from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $119.38.

NetEase Price Performance

NASDAQ NTES opened at $127.58 on Friday. The firm has a market capitalization of $80.83 billion, a P/E ratio of 18.36, a P/E/G ratio of 4.54 and a beta of 0.69. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $135.32. The business’s 50-day simple moving average is $124.25 and its 200-day simple moving average is $108.17.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.12%. NetEase’s payout ratio is currently 38.71%.

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.