Profund Advisors LLC Decreases Stock Position in NetEase, Inc. $NTES

Profund Advisors LLC decreased its position in NetEase, Inc. (NASDAQ:NTES) by 5.6% during the second quarter, Holdings Channel.com reports. The fund owned 24,212 shares of the technology company’s stock after selling 1,437 shares during the quarter. Profund Advisors LLC’s holdings in NetEase were worth $3,258,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. NewSquare Capital LLC lifted its holdings in NetEase by 137.2% in the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after buying an additional 107 shares during the period. Private Trust Co. NA increased its position in NetEase by 266.0% during the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares during the period. USA Financial Formulas purchased a new position in NetEase during the 2nd quarter valued at $30,000. Reyes Financial Architecture Inc. lifted its position in shares of NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after purchasing an additional 226 shares during the period. Finally, Richardson Financial Services Inc. bought a new stake in shares of NetEase during the 2nd quarter valued at about $33,000. 11.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NTES shares. The Goldman Sachs Group set a $161.00 price target on shares of NetEase and gave the stock a “buy” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. upgraded shares of NetEase from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $138.00 to $190.00 in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a report on Wednesday, October 8th. Morgan Stanley reiterated an “overweight” rating and set a $170.00 price target on shares of NetEase in a report on Wednesday, October 8th. Finally, Barclays set a $120.00 target price on NetEase and gave the stock an “equal weight” rating in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.30.

NetEase Stock Down 0.2%

NetEase stock opened at $138.99 on Monday. The business has a 50-day simple moving average of $146.97 and a two-hundred day simple moving average of $133.61. NetEase, Inc. has a 52-week low of $75.88 and a 52-week high of $159.55. The company has a market cap of $88.06 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.91 and a beta of 0.65.

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were issued a $0.675 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 1.9%. NetEase’s dividend payout ratio is currently 30.72%.

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.