Nan Fung Trinity HK Ltd. Sells 155,800 Shares of NetEase, Inc. (NASDAQ:NTES)

Nan Fung Trinity HK Ltd. trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES) by 61.1% during the fourth quarter, HoldingsChannel reports. The firm owned 99,300 shares of the technology company’s stock after selling 155,800 shares during the quarter. NetEase comprises 1.8% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 20th largest holding. Nan Fung Trinity HK Ltd.’s holdings in NetEase were worth $8,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Concurrent Investment Advisors LLC bought a new position in NetEase during the fourth quarter worth about $217,000. Truist Financial Corp acquired a new position in shares of NetEase in the 4th quarter valued at approximately $218,000. FengHe Fund Management Pte. Ltd. acquired a new position in shares of NetEase in the 4th quarter valued at approximately $30,563,000. V Square Quantitative Management LLC increased its stake in NetEase by 17.8% during the 4th quarter. V Square Quantitative Management LLC now owns 4,694 shares of the technology company’s stock worth $421,000 after purchasing an additional 710 shares in the last quarter. Finally, Focus Financial Network Inc. acquired a new stake in NetEase during the 4th quarter worth approximately $318,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTES. Citigroup upped 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. Bank of America upped their target price on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Morgan Stanley lifted their price target on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Benchmark lifted their target price on NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.43.

NetEase Price Performance

Shares of NASDAQ NTES opened at $103.22 on Friday. The business has a 50-day moving average of $97.77 and a 200-day moving average of $89.77. The stock has a market capitalization of $66.28 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 3.37 and a beta of 0.58. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. On average, sell-side analysts expect that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Thursday, March 6th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.69%. NetEase’s payout ratio is 76.61%.

NetEase Company 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.