NetEase, Inc. (NASDAQ:NTES) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its stake in shares of NetEase, Inc. (NASDAQ:NTESFree Report) by 18.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 316,638 shares of the technology company’s stock after selling 71,152 shares during the quarter. Nordea Investment Management AB’s holdings in NetEase were worth $28,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NetEase by 13,747.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock worth $585,227,000 after purchasing an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in NetEase by 86.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after buying an additional 1,203,129 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of NetEase by 6.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after acquiring an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd increased its holdings in shares of NetEase by 109.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after acquiring an additional 632,896 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of NetEase by 7.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock valued at $107,130,000 after acquiring an additional 82,474 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on NTES shares. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Benchmark decreased their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, NetEase currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.29.

Get Our Latest Report on NetEase

NetEase Trading Up 1.7 %

Shares of NASDAQ:NTES opened at $89.72 on Wednesday. The firm’s 50 day moving average is $87.79 and its two-hundred day moving average is $87.77. The firm has a market capitalization of $57.61 billion, a P/E ratio of 15.16, a PEG ratio of 3.53 and a beta of 0.57. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $114.50.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

NetEase Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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