NetEase, Inc. $NTES Shares Sold by Ovata Capital Management Ltd

Ovata Capital Management Ltd decreased its position in shares of NetEase, Inc. (NASDAQ:NTES) by 73.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,800 shares of the technology company’s stock after selling 18,500 shares during the quarter. Ovata Capital Management Ltd’s holdings in NetEase were worth $937,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTES. Brighton Jones LLC grew its stake in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the period. Strs Ohio acquired a new stake in shares of NetEase during the 1st quarter worth approximately $63,000. EverSource Wealth Advisors LLC grew its stake in shares of NetEase by 106.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after purchasing an additional 280 shares during the period. First Trust Advisors LP grew its stake in shares of NetEase by 287.4% during the 2nd quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after purchasing an additional 67,934 shares during the period. Finally, Walleye Capital LLC grew its stake in shares of NetEase by 670.9% during the 2nd quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after purchasing an additional 4,582 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Performance

NASDAQ NTES opened at $122.73 on Friday. The business has a fifty day moving average price of $115.73 and a 200 day moving average price of $124.97. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The company has a market cap of $78.35 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.70 and a beta of 0.72.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, June 5th. NetEase’s dividend payout ratio is currently 61.49%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NTES shares. Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Nomura decreased their target price on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Barclays decreased their target price on NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Citigroup reiterated a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $158.00 target price on shares of NetEase in a research report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.