Renaissance Technologies LLC Buys 38,788 Shares of NetEase, Inc. (NASDAQ:NTES)

Renaissance Technologies LLC raised its position in shares of NetEase, Inc. (NASDAQ:NTES) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 986,888 shares of the technology company’s stock after acquiring an additional 38,788 shares during the quarter. Renaissance Technologies LLC’s holdings in NetEase were worth $88,040,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NTES. Farther Finance Advisors LLC grew its stake in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares during the period. Brooklyn Investment Group bought a new stake in shares of NetEase during the 4th quarter valued at $34,000. UMB Bank n.a. increased its stake in shares of NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after acquiring an additional 111 shares in the last quarter. Live Oak Investment Partners purchased a new position in NetEase during the 4th quarter valued at about $62,000. Finally, Avior Wealth Management LLC boosted its stake in NetEase by 148.9% during the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock worth $89,000 after acquiring an additional 594 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

NTES has been the subject of a number of analyst reports. Bank of America raised their target price on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Barclays lifted their price objective on NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Benchmark increased their target price on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley lifted their price target on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.57.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $91.37 on Wednesday. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $110.15. The company has a market cap of $58.67 billion, a P/E ratio of 14.34, a PEG ratio of 3.37 and a beta of 0.65. The stock’s fifty day moving average price is $101.76 and its 200-day moving average price is $93.90.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $27.16 billion. On average, sell-side analysts anticipate that NetEase, Inc. will post 6.91 earnings per share for the current year.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, March 6th. NetEase’s dividend payout ratio (DPR) is presently 76.45%.

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.