Tairen Capital Ltd Decreases Position in NetEase, Inc. (NASDAQ:NTES)

Tairen Capital Ltd decreased its stake in NetEase, Inc. (NASDAQ:NTES) by 99.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,560 shares of the technology company’s stock after selling 828,488 shares during the quarter. NetEase comprises 0.0% of Tairen Capital Ltd’s portfolio, making the stock its 24th biggest holding. Tairen Capital Ltd’s holdings in NetEase were worth $436,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTES. Mather Group LLC. boosted its stake in NetEase by 1,415.0% during the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after buying an additional 283 shares during the period. SYSTM Wealth Solutions LLC lifted its holdings in shares of NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after acquiring an additional 117 shares during the last quarter. UMB Bank n.a. purchased a new position in shares of NetEase during the 1st quarter worth about $50,000. ORG Partners LLC bought a new position in NetEase during the 1st quarter valued at about $50,000. Finally, AdvisorNet Financial Inc raised its position in NetEase by 39.6% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,400 shares of the technology company’s stock worth $134,000 after purchasing an additional 397 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Trading Down 0.7 %

NTES opened at $78.90 on Monday. The business’s fifty day simple moving average is $85.89 and its 200-day simple moving average is $93.01. The company has a market capitalization of $50.67 billion, a price-to-earnings ratio of 12.23, a PEG 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.

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

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, September 6th. NetEase’s dividend payout ratio (DPR) is 26.82%.

Wall Street Analysts Forecast Growth

NTES has been the subject of several recent analyst reports. Bank of America dropped their target price on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a research report on Friday, July 5th. Barclays decreased their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, August 26th. Jefferies Financial Group lowered their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.67.

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.