NetEase, Inc. $NTES Position Lifted by True Light Capital Pte. Ltd.

True Light Capital Pte. Ltd. raised its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 79.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 48,754 shares of the technology company’s stock after acquiring an additional 21,552 shares during the quarter. NetEase accounts for about 2.8% of True Light Capital Pte. Ltd.’s investment portfolio, making the stock its 7th largest holding. True Light Capital Pte. Ltd.’s holdings in NetEase were worth $5,458,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of NetEase in the 1st quarter valued at $25,000. Atlas Capital Advisors Inc. acquired a new position in shares of NetEase during the 4th quarter valued at $47,000. Harbour Investments Inc. boosted its position in NetEase by 7,480.0% during the 4th 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 period. Smartleaf Asset Management LLC boosted its position in 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 purchasing an additional 372 shares during the period. Finally, MidFirst Bank acquired a new stake in NetEase in the 4th quarter valued at $57,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Down 2.3%

NTES opened at $128.39 on Wednesday. The company has a fifty day simple moving average of $122.33 and a 200 day simple moving average of $122.48. The firm has a market cap of $81.97 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.70 and a beta of 0.72. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were issued a $0.72 dividend. The ex-dividend date was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.2%. NetEase’s payout ratio is currently 38.11%.

Insiders Place Their Bets

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. 54.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on NTES shares. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research report on Thursday, June 18th. Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. The Goldman Sachs Group set a $169.00 target price on NetEase in a report on Wednesday, July 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, NetEase has an average rating of “Moderate Buy” and an average price target of $158.38.

NetEase Company Profile

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.