NetEase, Inc. (NASDAQ:NTES) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 63.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,781 shares of the technology company’s stock after selling 32,538 shares during the period. Seven Eight Capital LP’s holdings in NetEase were worth $1,795,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tairen Capital Ltd acquired a new stake in shares of NetEase in the 4th quarter worth approximately $164,307,000. Wellington Management Group LLP grew its holdings in NetEase by 226.4% in the fourth quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock valued at $176,677,000 after purchasing an additional 1,315,410 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of NetEase in the first quarter valued at $103,658,000. Lazard Asset Management LLC raised its stake in shares of NetEase by 804.5% during the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after buying an additional 704,753 shares during the last quarter. Finally, Aspex Management HK Ltd acquired a new position in shares of NetEase during the 4th quarter worth $59,354,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $76.70 on Thursday. The firm has a market capitalization of $49.25 billion, a PE ratio of 11.89, a P/E/G ratio of 1.72 and a beta of 0.54. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $118.89. The business has a 50-day moving average of $86.42 and a two-hundred day moving average of $93.47.

NetEase (NASDAQ:NTES) last posted its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43. The firm had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 EPS. As a group, research analysts anticipate that NetEase, Inc. will post 6.05 earnings per share for the current year.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, September 6th. NetEase’s dividend payout ratio is presently 26.82%.

Wall Street Analysts Forecast Growth

NTES has been the subject of several recent research reports. Benchmark raised their target price on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday, May 24th. Morgan Stanley reiterated an “equal weight” rating and set a $100.00 target price on shares of NetEase in a research report on Friday, July 5th. Jefferies Financial Group lowered their price target on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Bank of America dropped their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Finally, Barclays decreased their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, NetEase has an average rating of “Moderate Buy” and a consensus target price of $112.67.

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.