Healthcare of Ontario Pension Plan Trust Fund Invests $5.84 Million in NetEase, Inc. $NTES

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in NetEase, Inc. (NASDAQ:NTES) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,200 shares of the technology company’s stock, valued at approximately $5,843,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new position in shares of NetEase during the 1st quarter worth about $25,000. Atlas Capital Advisors Inc. acquired a new stake in shares of NetEase during the 4th quarter worth about $47,000. Smartleaf Asset Management LLC raised its position in shares of NetEase by 3,381.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after acquiring an additional 372 shares in the last quarter. Harbour Investments Inc. lifted its stake in NetEase by 7,480.0% during the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after purchasing an additional 374 shares during the last quarter. Finally, MidFirst Bank purchased a new stake in NetEase during the fourth quarter worth approximately $57,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the sale, the general counsel directly owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 54.70% of the stock is owned by company insiders.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $129.62 on Thursday. The company has a 50-day simple moving average of $124.68 and a 200-day simple moving average of $121.38. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The stock has a market capitalization of $82.99 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.65 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, June 5th. NetEase’s payout ratio is 38.11%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a research note on Wednesday, July 1st. Benchmark restated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Zacks Research cut shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday. Weiss Ratings raised shares of NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, NetEase has a consensus rating of “Moderate Buy” and an average target price of $158.38.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.