ABN Amro Investment Solutions Buys 10,600 Shares of NetEase, Inc. $NTES

ABN Amro Investment Solutions lifted its position in shares of NetEase, Inc. (NASDAQ:NTES) by 62.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,478 shares of the technology company’s stock after buying an additional 10,600 shares during the quarter. ABN Amro Investment Solutions’ holdings in NetEase were worth $3,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in NetEase by 68,860.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after purchasing an additional 8,538,717 shares during the period. Renaissance Technologies LLC increased its stake in NetEase by 0.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,088,688 shares of the technology company’s stock valued at $149,825,000 after purchasing an additional 5,600 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NetEase by 16.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock valued at $120,697,000 after purchasing an additional 155,784 shares during the period. Man Group plc raised its holdings in shares of NetEase by 7.3% during the third quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock valued at $160,368,000 after purchasing an additional 71,966 shares during the period. Finally, Morgan Stanley boosted its position in shares of NetEase by 25.4% during the 4th quarter. Morgan Stanley now owns 894,440 shares of the technology company’s stock worth $123,093,000 after purchasing an additional 181,007 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Insider Activity

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of the transaction, the general counsel directly owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 54.70% of the stock is currently owned by corporate insiders.

NetEase Trading Down 0.8%

NASDAQ NTES opened at $120.18 on Friday. The firm has a market capitalization of $76.73 billion, a P/E ratio of 15.96, a PEG ratio of 1.57 and a beta of 0.72. The business has a fifty day simple moving average of $123.84 and a 200 day simple moving average of $121.91. NetEase, Inc. has a 12 month low of $106.06 and a 12 month high of $159.55.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, June 5th. NetEase’s payout ratio is presently 38.11%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings raised NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Wall Street Zen downgraded NetEase from a “buy” rating to a “hold” rating in a report on Monday, July 6th. The Goldman Sachs Group set a $169.00 target price on NetEase in a research report on Wednesday, July 1st. Finally, Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $158.38.

NetEase Company 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.