William Blair Investment Management LLC Has $968,000 Stake in NetEase, Inc. $NTES

William Blair Investment Management LLC raised its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 169.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,037 shares of the technology company’s stock after buying an additional 4,426 shares during the period. William Blair Investment Management LLC’s holdings in NetEase were worth $968,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the last quarter. Strs Ohio acquired a new position in NetEase during the first quarter valued at approximately $63,000. EverSource Wealth Advisors LLC grew its holdings in NetEase by 106.9% during the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock valued at $73,000 after purchasing an additional 280 shares during the last quarter. First Trust Advisors LP raised its position in shares of NetEase by 287.4% in the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock valued at $12,324,000 after purchasing an additional 67,934 shares during the period. Finally, Walleye Capital LLC lifted its stake in shares of NetEase by 670.9% in the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after buying an additional 4,582 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays decreased their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Wall Street Zen raised shares of NetEase from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup restated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research report on Tuesday. Finally, Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NetEase has an average rating of “Moderate Buy” and an average target price of $157.38.

NetEase Trading Up 5.8%

Shares of NetEase stock opened at $123.34 on Wednesday. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55. The company’s fifty day simple moving average is $114.67 and its 200-day simple moving average is $125.82. The company has a market cap of $78.15 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.62 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, June 5th. NetEase’s dividend payout ratio (DPR) is currently 61.49%.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.