Amundi Asset Management US Inc. Cuts Position in NetEase, Inc. (NASDAQ:NTES)

Amundi Asset Management US Inc. decreased its holdings in NetEase, Inc. (NASDAQ:NTES) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,800,227 shares of the technology company’s stock after selling 163,556 shares during the quarter. Amundi Asset Management US Inc. owned about 0.27% of NetEase worth $185,905,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in NTES. UBS Asset Management Americas Inc. raised its position in NetEase by 371.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 13,955,280 shares of the technology company’s stock worth $1,336,497,000 after acquiring an additional 10,995,841 shares in the last quarter. Norges Bank purchased a new position in shares of NetEase in the fourth quarter valued at $457,805,000. Canada Pension Plan Investment Board increased its position in shares of NetEase by 432.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,440,214 shares of the technology company’s stock valued at $233,700,000 after buying an additional 1,981,959 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of NetEase by 461.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,373,285 shares of the technology company’s stock valued at $227,306,000 after buying an additional 1,950,498 shares in the last quarter. Finally, FIL Ltd increased its position in shares of NetEase by 408.5% in the fourth quarter. FIL Ltd now owns 2,089,675 shares of the technology company’s stock valued at $200,129,000 after buying an additional 1,678,763 shares in the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

NTES opened at $113.04 on Thursday. The firm has a market capitalization of $75.72 billion, a price-to-earnings ratio of 39.83, a P/E/G ratio of 1.02 and a beta of 0.44. NetEase, Inc. has a 52 week low of $82.93 and a 52 week high of $134.33. The firm’s fifty day moving average is $111.74.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Tuesday, May 18th. The technology company reported $7.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $6.69. NetEase had a return on equity of 15.15% and a net margin of 16.83%. The firm had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.10 billion. During the same period last year, the company earned $32.17 EPS. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. Research analysts predict that NetEase, Inc. will post 3.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 18th. Shareholders of record on Thursday, June 3rd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Wednesday, June 2nd. NetEase’s payout ratio is 43.12%.

A number of research analysts have recently weighed in on the company. Macquarie dropped their price target on NetEase from $124.00 to $118.00 and set an “in-line” rating for the company in a research report on Wednesday, May 19th. UBS Group raised their price target on NetEase from $133.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, May 19th. Zacks Investment Research cut NetEase from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, CLSA decreased their price objective on NetEase from $159.00 to $134.00 and set a “buy” rating on the stock in a research note on Wednesday, May 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $119.33.

About NetEase

NetEase, Inc is an internet technology company, which premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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