NetEase, Inc. (NTES) Stake Lowered by CIBC World Markets Inc.

CIBC World Markets Inc. lowered its holdings in NetEase, Inc. (NASDAQ:NTES) by 60.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,023 shares of the technology company’s stock after selling 4,614 shares during the period. CIBC World Markets Inc.’s holdings in NetEase were worth $909,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Renaissance Group LLC grew its position in shares of NetEase by 3.3% in the second quarter. Renaissance Group LLC now owns 51,703 shares of the technology company’s stock valued at $15,543,000 after purchasing an additional 1,656 shares during the period. Geode Capital Management LLC grew its position in shares of NetEase by 11.6% in the first quarter. Geode Capital Management LLC now owns 152,694 shares of the technology company’s stock valued at $43,243,000 after purchasing an additional 15,931 shares during the period. Morgan Stanley grew its position in shares of NetEase by 14.4% in the first quarter. Morgan Stanley now owns 737,924 shares of the technology company’s stock valued at $209,570,000 after purchasing an additional 93,057 shares during the period. Invictus RG grew its position in shares of NetEase by 64.2% in the first quarter. Invictus RG now owns 980 shares of the technology company’s stock valued at $278,000 after purchasing an additional 383 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of NetEase by 13,818.2% in the first quarter. Canada Pension Plan Investment Board now owns 7,655 shares of the technology company’s stock valued at $2,174,000 after purchasing an additional 7,600 shares during the period. 50.38% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on NTES shares. Vetr downgraded NetEase from a “strong-buy” rating to a “buy” rating and set a $318.49 price objective for the company. in a research report on Monday, May 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of NetEase in a research report on Monday, May 22nd. Standpoint Research downgraded NetEase from a “buy” rating to a “reduce” rating and lifted their price objective for the company from $345.00 to $360.00 in a research report on Wednesday, June 7th. BidaskClub raised NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Finally, Zacks Investment Research raised NetEase from a “hold” rating to a “strong-buy” rating and set a $346.00 price objective for the company in a research report on Wednesday, July 12th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $306.40.

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Shares of NetEase, Inc. (NASDAQ NTES) opened at 271.07 on Friday. NetEase, Inc. has a 52-week low of $211.11 and a 52-week high of $337.55. The stock has a market cap of $35.73 billion, a P/E ratio of 17.78 and a beta of 0.96. The firm’s 50-day moving average price is $282.13 and its 200-day moving average price is $288.53.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 25th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, August 23rd. NetEase’s dividend payout ratio (DPR) is presently 25.07%.

About NetEase

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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