Exchange Traded Concepts LLC Boosts Stake in NetEase, Inc. $NTES

Exchange Traded Concepts LLC boosted its position in NetEase, Inc. (NASDAQ:NTES) by 139.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,244 shares of the technology company’s stock after purchasing an additional 29,222 shares during the period. Exchange Traded Concepts LLC’s holdings in NetEase were worth $7,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. NewSquare Capital LLC lifted its stake in shares of NetEase by 137.2% during the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after acquiring an additional 107 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of NetEase during the first quarter worth $26,000. Private Trust Co. NA boosted its stake in shares of NetEase by 266.0% during the second quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares during the period. USA Financial Formulas bought a new position in shares of NetEase in the second quarter worth about $30,000. Finally, Reyes Financial Architecture Inc. increased its stake in NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after buying an additional 226 shares during the period. Institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price objective on shares of NetEase in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a report on Monday. Wall Street Zen downgraded NetEase from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Citigroup reissued a “buy” rating on shares of NetEase in a research report on Friday, November 21st. Finally, Arete Research upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Wednesday, September 3rd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.33.

NetEase Trading Down 0.2%

Shares of NASDAQ:NTES opened at $138.04 on Wednesday. The company has a market capitalization of $87.46 billion, a PE ratio of 17.63, a P/E/G ratio of 1.66 and a beta of 0.68. NetEase, Inc. has a 12-month low of $87.67 and a 12-month high of $159.55. The business’s fifty day simple moving average is $140.53 and its 200-day simple moving average is $138.80.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.57 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.7%. NetEase’s payout ratio is presently 28.99%.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.