NetEase, Inc. (NASDAQ:NTES) Holdings Trimmed by Panagora Asset Management Inc.

Panagora Asset Management Inc. lowered its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 12.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,280 shares of the technology company’s stock after selling 1,593 shares during the period. Panagora Asset Management Inc.’s holdings in NetEase were worth $1,078,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NTES. Tairen Capital Ltd acquired a new stake in shares of NetEase during the 4th quarter valued at $164,307,000. Wellington Management Group LLP boosted its stake in shares of NetEase by 226.4% during the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock valued at $176,677,000 after buying an additional 1,315,410 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of NetEase during the 1st quarter valued at $103,658,000. Lazard Asset Management LLC boosted its stake in shares of NetEase by 804.5% during the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after buying an additional 704,753 shares during the period. Finally, Aspex Management HK Ltd acquired a new stake in shares of NetEase during the 4th quarter valued at $59,354,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays reduced their price objective on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Jefferies Financial Group reduced their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a research note on Friday, July 5th. Finally, Bank of America reduced their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.67.

NetEase Stock Performance

NASDAQ:NTES opened at $80.44 on Monday. The firm’s 50-day moving average is $90.64 and its 200-day moving average is $96.21. NetEase, Inc. has a 52-week low of $80.18 and a 52-week high of $118.89. The company has a market cap of $51.66 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.61 and a beta of 0.53.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $10.43. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The company had revenue of $25.49 billion for the quarter, compared to the consensus estimate of $26.01 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that NetEase, Inc. will post 6.67 EPS for the current year.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.435 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a yield of 2.16%. NetEase’s payout ratio is currently 26.82%.

NetEase Profile

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.