Atria Investments Inc Sells 1,313 Shares of NetEase, Inc. (NASDAQ:NTES)

Atria Investments Inc trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES) by 29.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,092 shares of the technology company’s stock after selling 1,313 shares during the period. Atria Investments Inc’s holdings in NetEase were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTES. Massachusetts Financial Services Co. MA lifted its position in shares of NetEase by 6.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after purchasing an additional 103,102 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of NetEase by 109.0% during the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after buying an additional 632,896 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of NetEase in the first quarter valued at approximately $103,658,000. Lazard Asset Management LLC grew its stake in shares of NetEase by 804.5% in the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after acquiring an additional 704,753 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in NetEase by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock worth $73,811,000 after acquiring an additional 306,500 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NTES shares. Bank of America reduced their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Jefferies Financial Group decreased their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Barclays lowered their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Benchmark reduced their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Citigroup boosted their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.29.

NetEase Price Performance

Shares of NTES stock opened at $86.45 on Friday. The stock’s fifty day simple moving average is $84.75 and its 200 day simple moving average is $88.63. NetEase, Inc. has a one year low of $75.85 and a one year high of $115.43. The firm has a market cap of $55.51 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 3.24 and a beta of 0.57.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, beating the consensus estimate of $1.62 by $10.43. The company had revenue of $25.49 billion for the quarter, compared to the consensus estimate of $26.01 billion. NetEase had a net margin of 26.02% and a return on equity of 20.82%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.75 EPS. On average, research analysts anticipate that NetEase, Inc. will post 6.08 earnings per share for the current year.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.435 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 2.01%. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

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.