Metavasi Capital LP Makes New Investment in NetEase, Inc. $NTES

Metavasi Capital LP purchased a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,000 shares of the technology company’s stock, valued at approximately $4,117,000. NetEase accounts for 2.6% of Metavasi Capital LP’s holdings, making the stock its 14th largest position.

Several other large investors have also recently modified their holdings of NTES. Cubist Systematic Strategies LLC purchased a new stake in NetEase during the 1st quarter valued at about $2,554,000. Royal Bank of Canada boosted its stake in shares of NetEase by 125.0% during the first quarter. Royal Bank of Canada now owns 212,466 shares of the technology company’s stock valued at $21,866,000 after purchasing an additional 118,042 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of NetEase by 4.1% in the first quarter. Panagora Asset Management Inc. now owns 14,562 shares of the technology company’s stock worth $1,499,000 after purchasing an additional 570 shares during the last quarter. OLD Mission Capital LLC purchased a new position in shares of NetEase in the first quarter worth $8,588,000. Finally, Vident Advisory LLC increased its stake in shares of NetEase by 5.9% in the first quarter. Vident Advisory LLC now owns 3,327 shares of the technology company’s stock worth $343,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

NetEase stock opened at $136.19 on Monday. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45. The stock’s 50 day simple moving average is $132.63 and its two-hundred day simple moving average is $117.10. The stock has a market cap of $86.29 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.82 and a beta of 0.67.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 28th. NetEase’s dividend payout ratio is presently 30.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NTES shares. Barclays set a $120.00 price target on shares of NetEase and gave the stock an “equal weight” rating in a report on Monday, August 18th. JPMorgan Chase & Co. cut NetEase from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft started coverage on NetEase in a research report on Monday, May 12th. They set a “buy” rating and a $130.00 price target for the company. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Finally, Wall Street Zen raised NetEase from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.71.

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.