Symmetry Peak Management LLC purchased a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,000 shares of the technology company’s stock, valued at approximately $1,420,000.
A number of other hedge funds have also bought and sold shares of NTES. Assetmark Inc. boosted its stake in NetEase by 51.0% in the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock worth $104,000 after buying an additional 124 shares in the last quarter. Howe & Rusling Inc. boosted its stake in NetEase by 7.2% in the first quarter. Howe & Rusling Inc. now owns 715 shares of the technology company’s stock worth $203,000 after buying an additional 48 shares in the last quarter. Blair William & Co. IL acquired a new stake in NetEase during the first quarter worth $229,000. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in NetEase during the first quarter worth $227,000. Finally, AXA acquired a new stake in NetEase during the first quarter worth $227,000. Institutional investors own 54.57% of the company’s stock.
Shares of NetEase, Inc. (NASDAQ:NTES) traded up 1.47% during midday trading on Friday, reaching $296.97. The company’s stock had a trading volume of 1,023,500 shares. The stock has a 50 day moving average of $285.62 and a 200-day moving average of $265.27. The company has a market capitalization of $39.06 billion, a P/E ratio of 20.61 and a beta of 0.85. NetEase, Inc. has a 1-year low of $161.00 and a 1-year high of $323.10.
The business also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 26th were given a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $4.32 dividend on an annualized basis and a yield of 1.45%. NetEase’s payout ratio is 25.09%.
NTES has been the topic of several research reports. BidaskClub lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday. Vetr lowered NetEase from a “strong-buy” rating to a “buy” rating and set a $318.49 price objective on the stock. in a report on Monday, May 22nd. Jefferies Group LLC raised their price objective on NetEase from $261.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Deutsche Bank AG set a $298.00 price objective on NetEase and gave the stock a “buy” rating in a report on Thursday, February 16th. Finally, Mizuho raised NetEase from an “underperform” rating to a “neutral” rating in a report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $295.84.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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