NetEase, Inc. $NTES Shares Sold by Ovata Capital Management Ltd

Ovata Capital Management Ltd reduced its stake in NetEase, Inc. (NASDAQ:NTES) by 73.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,800 shares of the technology company’s stock after selling 18,500 shares during the quarter. Ovata Capital Management Ltd’s holdings in NetEase were worth $937,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of NetEase by 68,860.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock valued at $1,299,684,000 after buying an additional 8,538,717 shares in the last quarter. Fisher Asset Management LLC lifted its stake in NetEase by 4.7% during the 3rd quarter. Fisher Asset Management LLC now owns 1,133,052 shares of the technology company’s stock worth $172,213,000 after acquiring an additional 50,861 shares in the last quarter. Renaissance Technologies LLC lifted its stake in NetEase by 0.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,088,688 shares of the technology company’s stock worth $149,825,000 after acquiring an additional 5,600 shares in the last quarter. Man Group plc boosted its holdings in NetEase by 7.3% during the 3rd quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock valued at $160,368,000 after acquiring an additional 71,966 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of NetEase by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 923,326 shares of the technology company’s stock valued at $127,274,000 after purchasing an additional 81,703 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Performance

Shares of NTES opened at $121.33 on Friday. The stock has a 50-day simple moving average of $118.04 and a 200-day simple moving average of $123.94. The stock has a market capitalization of $77.46 billion, a PE ratio of 16.11, a PEG ratio of 1.57 and a beta of 0.72. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were paid a $0.72 dividend. The ex-dividend date was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.4%. NetEase’s payout ratio is currently 38.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Benchmark reissued a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.38.

NetEase Company Profile

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.