Worth Venture Partners LLC trimmed its holdings in shares of NetEase Inc (NASDAQ:NTES) by 40.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,550 shares of the technology company’s stock after selling 1,070 shares during the period. Worth Venture Partners LLC’s holdings in NetEase were worth $435,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Alkeon Capital Management LLC raised its stake in shares of NetEase by 100.5% during the 4th quarter. Alkeon Capital Management LLC now owns 400,201 shares of the technology company’s stock worth $138,097,000 after buying an additional 200,594 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in NetEase in the 4th quarter valued at approximately $311,000. AXA increased its stake in NetEase by 17.6% in the 4th quarter. AXA now owns 38,152 shares of the technology company’s stock valued at $13,165,000 after purchasing an additional 5,721 shares in the last quarter. Penserra Capital Management LLC increased its stake in NetEase by 27.0% in the 1st quarter. Penserra Capital Management LLC now owns 87,904 shares of the technology company’s stock valued at $24,647,000 after purchasing an additional 18,704 shares in the last quarter. Finally, Polaris Greystone Financial Group LLC increased its stake in NetEase by 9.8% in the 4th quarter. Polaris Greystone Financial Group LLC now owns 28,574 shares of the technology company’s stock valued at $9,860,000 after purchasing an additional 2,541 shares in the last quarter. 46.25% of the stock is owned by institutional investors and hedge funds.
NetEase stock traded up $0.44 during mid-day trading on Wednesday, hitting $249.63. 6,646 shares of the company were exchanged, compared to its average volume of 1,265,542. The company has a market capitalization of $33.14 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.90 and a beta of 0.82. NetEase Inc has a 12-month low of $222.32 and a 12-month high of $377.64.
NetEase (NASDAQ:NTES) last released its quarterly earnings results on Wednesday, May 16th. The technology company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($1.08). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.27 billion. NetEase had a return on equity of 17.46% and a net margin of 13.60%. research analysts anticipate that NetEase Inc will post 8.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Friday, June 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Thursday, May 31st. NetEase’s payout ratio is 7.33%.
Several equities analysts recently weighed in on the company. BidaskClub downgraded NetEase from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Jefferies Financial Group dropped their price objective on NetEase from $335.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday, April 10th. JPMorgan Chase & Co. assumed coverage on NetEase in a research note on Thursday, April 12th. They issued an “underweight” rating and a $240.00 price objective for the company. Zacks Investment Research raised NetEase from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Finally, Daiwa Capital Markets raised NetEase from a “neutral” rating to a “buy” rating in a research note on Thursday, May 17th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. NetEase has an average rating of “Hold” and an average target price of $327.21.
NetEase Company Profile
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; Advertising Services; and E-mail, E-commerce and Others segments. It offers PC-client massively multi-player online role-playing games and mobile games; and distributes its point cards to gamers.
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