Greenwoods Asset Management Hong Kong Ltd. Cuts Stock Position in NetEase, Inc. $NTES

Greenwoods Asset Management Hong Kong Ltd. reduced its stake in NetEase, Inc. (NASDAQ:NTES) by 81.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 600,631 shares of the technology company’s stock after selling 2,589,369 shares during the period. NetEase accounts for 3.5% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 6th biggest holding. Greenwoods Asset Management Hong Kong Ltd. owned 0.09% of NetEase worth $76,965,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NetEase by 68,860.6% during 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 worth $1,299,684,000 after buying an additional 8,538,717 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of NetEase by 111.4% in the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after acquiring an additional 698,318 shares during the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in NetEase in the 4th quarter valued at about $44,214,000. Renaissance Technologies LLC lifted its position in NetEase by 25.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after acquiring an additional 274,500 shares in the last quarter. Finally, Man Group plc boosted its stake in NetEase by 33.3% during the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock valued at $132,313,000 after purchasing an additional 245,872 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of the transaction, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.70% of the stock is owned by insiders.

NetEase Trading Down 0.5%

Shares of NASDAQ NTES opened at $119.46 on Thursday. The stock has a fifty day simple moving average of $127.02 and a two-hundred day simple moving average of $120.54. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $159.55. The firm has a market cap of $76.48 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd will be paid a $0.48 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.92 annualized dividend and a yield of 1.6%. NetEase’s dividend payout ratio (DPR) is currently 26.31%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Zacks Research lowered NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Nomura upped their price target on NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Morgan Stanley restated an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, NetEase presently has a consensus rating of “Moderate Buy” and an average target price of $160.57.

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.