Granite Point Capital Management L.P. increased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 21.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,800 shares of the technology company’s stock after purchasing an additional 1,700 shares during the quarter. NetEase accounts for 0.5% of Granite Point Capital Management L.P.’s holdings, making the stock its 16th biggest position. Granite Point Capital Management L.P.’s holdings in NetEase were worth $2,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTES. US Bancorp DE increased its stake in NetEase by 1.3% during the 2nd quarter. US Bancorp DE now owns 4,041 shares of the technology company’s stock worth $1,215,000 after purchasing an additional 50 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in NetEase by 7.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 39,359 shares of the technology company’s stock worth $11,817,000 after purchasing an additional 2,711 shares in the last quarter. IFP Advisors Inc increased its stake in NetEase by 21.4% during the 2nd quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after purchasing an additional 69 shares in the last quarter. TD Asset Management Inc. increased its stake in NetEase by 34.3% during the 2nd quarter. TD Asset Management Inc. now owns 23,152 shares of the technology company’s stock worth $6,960,000 after purchasing an additional 5,909 shares in the last quarter. Finally, Global X Management Co. LLC increased its stake in NetEase by 44.7% during the 2nd quarter. Global X Management Co. LLC now owns 24,242 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 7,487 shares in the last quarter. 50.54% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the company. ValuEngine cut NetEase from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Vetr raised NetEase from a “buy” rating to a “strong-buy” rating and set a $362.28 price target for the company in a research report on Tuesday. Zacks Investment Research downgraded NetEase from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub raised NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, Barclays upped their price target on NetEase from $260.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 21st. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. NetEase currently has a consensus rating of “Hold” and a consensus target price of $326.95.

Shares of NetEase, Inc. (NASDAQ NTES) opened at $317.99 on Wednesday. The company has a market capitalization of $42,787.51, a P/E ratio of 21.57, a PEG ratio of 1.82 and a beta of 0.93. NetEase, Inc. has a twelve month low of $211.11 and a twelve month high of $375.10.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, December 1st will be issued a $0.717 dividend. This represents a $2.87 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 30th. NetEase’s payout ratio is presently 25.09%.

NetEase announced that its board has approved a stock repurchase plan on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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NetEase Company Profile

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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