Voloridge Investment Management LLC Has $30.87 Million Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Voloridge Investment Management LLC decreased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 67.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 346,082 shares of the technology company’s stock after selling 728,762 shares during the quarter. Voloridge Investment Management LLC’s holdings in NetEase were worth $30,874,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NTES. Capital World Investors grew its stake in shares of NetEase by 40.6% during the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company’s stock worth $332,311,000 after purchasing an additional 1,074,818 shares during the period. Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in NetEase by 10.8% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company’s stock worth $324,088,000 after buying an additional 354,273 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of NetEase by 2.0% during the 4th quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company’s stock worth $321,137,000 after buying an additional 69,789 shares during the period. Dodge & Cox increased its stake in shares of NetEase by 0.6% in the 4th quarter. Dodge & Cox now owns 2,649,876 shares of the technology company’s stock valued at $236,395,000 after acquiring an additional 15,900 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of NetEase by 88.0% in the 4th quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company’s stock valued at $211,023,000 after acquiring an additional 1,107,363 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of NetEase from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday. Barclays lifted their price target on shares of NetEase from $104.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Friday, May 16th. Morgan Stanley upped their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research note on Monday, May 12th. They set a “buy” rating and a $130.00 price objective on the stock. Finally, Benchmark boosted their target price on NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.38.

NetEase Stock Down 0.4%

Shares of NASDAQ:NTES opened at $120.53 on Thursday. The firm has a market cap of $76.37 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.37 and a beta of 0.66. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $123.56. The company’s fifty day simple moving average is $103.65 and its 200 day simple moving average is $97.92.

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

NetEase Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.675 per share. The ex-dividend date is Friday, May 30th. NetEase’s payout ratio is presently 38.85%.

NetEase Profile

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.