Quantinno Capital Management LP Buys 8,116 Shares of NetEase, Inc. $NTES

Quantinno Capital Management LP raised its stake in NetEase, Inc. (NASDAQ:NTES) by 29.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,444 shares of the technology company’s stock after acquiring an additional 8,116 shares during the quarter. Quantinno Capital Management LP’s holdings in NetEase were worth $3,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in NetEase in the first quarter valued at approximately $25,000. Atlas Capital Advisors Inc. purchased a new stake in NetEase in the fourth quarter worth $47,000. Harbour Investments Inc. increased its position in NetEase by 7,480.0% in the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after buying an additional 374 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of NetEase by 3,381.8% in the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock valued at $51,000 after buying an additional 372 shares during the period. Finally, MidFirst Bank bought a new stake in shares of NetEase in the fourth quarter valued at $57,000. 11.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NTES has been the subject of several research reports. The Goldman Sachs Group set a $169.00 price target on NetEase in a research note on Wednesday, July 1st. Weiss Ratings lowered shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Morgan Stanley reiterated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Benchmark reissued a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Finally, Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.38.

NetEase Stock Performance

NetEase stock opened at $132.22 on Friday. The stock has a market cap of $84.65 billion, a P/E ratio of 17.56, a PEG ratio of 1.69 and a beta of 0.73. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55. The firm’s fifty day moving average price is $126.21 and its 200-day moving average price is $121.07.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a dividend of $0.72 per share. 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 presently 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 stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the transaction, the general counsel directly owned 12,223 shares in the company, valued at $1,568,210.90. This represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 54.70% of the stock is owned by corporate insiders.

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.