Pitcairn Co. Has $462,000 Position in NetEase, Inc. (NASDAQ:NTES)

Pitcairn Co. lessened its stake in NetEase, Inc. (NASDAQ:NTES) by 26.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,944 shares of the technology company’s stock after selling 1,813 shares during the period. Pitcairn Co.’s holdings in NetEase were worth $462,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NTES. Price T Rowe Associates Inc. MD acquired a new position in shares of NetEase in the 1st quarter valued at $103,658,000. Point72 Hong Kong Ltd raised its position in NetEase by 109.0% in the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after purchasing an additional 632,896 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in NetEase by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock worth $73,811,000 after purchasing an additional 306,500 shares during the period. Point72 Asset Management L.P. lifted its stake in NetEase by 126.5% during the second quarter. Point72 Asset Management L.P. now owns 525,400 shares of the technology company’s stock worth $50,218,000 after purchasing an additional 293,400 shares during the period. Finally, National Bank of Canada FI boosted its holdings in NetEase by 5,735.2% during the second quarter. National Bank of Canada FI now owns 281,080 shares of the technology company’s stock valued at $27,113,000 after purchasing an additional 276,263 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Up 0.9 %

Shares of NASDAQ NTES opened at $86.21 on Wednesday. The company has a market cap of $55.36 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 3.27 and a beta of 0.57. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $115.10. The firm’s 50-day simple moving average is $85.10 and its 200 day simple moving average is $88.34.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.435 per share. The ex-dividend date is Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 2.02%. NetEase’s dividend payout ratio (DPR) is currently 29.22%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group cut their target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Benchmark cut their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. Bank of America reduced their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Citigroup lifted their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Barclays reduced their price target on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

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.