Quantbot Technologies LP Makes New $613,000 Investment in NetEase, Inc. (NASDAQ:NTES)

Quantbot Technologies LP purchased a new stake in NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 6,870 shares of the technology company’s stock, valued at approximately $613,000.

Other hedge funds also recently modified their holdings of the company. WT Asset Management Ltd bought a new position in NetEase in the fourth quarter valued at about $2,624,000. SG Americas Securities LLC acquired a new position in shares of NetEase in the fourth quarter valued at approximately $654,000. APEIRON CAPITAL Ltd raised its holdings in NetEase by 20.5% in the 4th quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock valued at $11,537,000 after buying an additional 22,000 shares during the last quarter. SVB Wealth LLC acquired a new stake in NetEase during the 4th quarter worth approximately $3,817,000. Finally, Greenwoods Asset Management Hong Kong Ltd. grew its holdings in NetEase by 10.8% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company’s stock worth $324,088,000 after acquiring an additional 354,273 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $101.75 on Friday. The business’s 50-day moving average is $102.03 and its 200-day moving average is $92.42. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $110.15. The company has a market capitalization of $65.34 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 3.37 and a beta of 0.61.

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

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, March 6th. NetEase’s payout ratio is 76.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Benchmark raised their price target on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Bank of America raised their target price on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Barclays upped their price target on NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Morgan Stanley increased 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. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.57.

About NetEase

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.