Flow Traders U.S. LLC Invests $751,000 in NetEase, Inc. (NASDAQ:NTES)

Flow Traders U.S. LLC purchased a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the 3rd quarter, Holdings Channel reports. The fund purchased 8,035 shares of the technology company’s stock, valued at approximately $751,000.

A number of other institutional investors and hedge funds 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 holdings in NetEase by 13,747.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock worth $585,227,000 after acquiring an additional 6,213,248 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in NetEase by 6.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after purchasing an additional 103,102 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in NetEase by 109.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after buying an additional 632,896 shares in the last quarter. Fisher Asset Management LLC boosted its position in NetEase by 7.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock valued at $107,130,000 after buying an additional 82,474 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of NetEase by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock valued at $73,811,000 after buying an additional 306,500 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Price Performance

Shares of NetEase stock opened at $89.36 on Wednesday. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The company has a market capitalization of $57.38 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 3.28 and a beta of 0.57. The business has a 50-day moving average of $85.83 and a two-hundred day moving average of $87.87.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, November 29th. NetEase’s payout ratio is currently 29.22%.

Wall Street Analysts Forecast Growth

NTES has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Benchmark dropped their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Bank of America reduced their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Citigroup upped their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Barclays reduced their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.29.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.