Euro Pacific Asset Management LLC Purchases New Stake in NetEase, Inc. $NTES

Euro Pacific Asset Management LLC purchased a new position in NetEase, Inc. (NASDAQ:NTES) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,495 shares of the technology company’s stock, valued at approximately $1,400,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTES. Renaissance Technologies LLC boosted its stake in shares of NetEase by 25.2% during the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after purchasing an additional 274,500 shares during the period. Bank of America Corp DE increased its stake in shares of NetEase by 111.4% in the first quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after buying an additional 698,318 shares during the period. Dimensional Fund Advisors LP raised its holdings in NetEase by 16.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock valued at $120,697,000 after buying an additional 155,784 shares during the last quarter. Temasek Holdings Private Ltd raised its holdings in NetEase by 50.7% during the 1st quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock valued at $79,266,000 after buying an additional 238,386 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in NetEase by 64.2% in the 1st quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock worth $65,118,000 after acquiring an additional 227,433 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Insider Activity

In related news, VP Aileen Mo sold 716 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total transaction of $86,378.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 54.70% of the stock is owned by corporate insiders.

NetEase Trading Down 0.5%

NASDAQ NTES traded down $0.65 during trading on Tuesday, hitting $124.76. The company had a trading volume of 503,797 shares, compared to its average volume of 846,240. NetEase, Inc. has a one year low of $106.06 and a one year high of $153.54. The company has a market cap of $79.88 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.68. The company’s fifty day moving average is $121.63 and its 200-day moving average is $121.00.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, September 3rd. This is a negative change from NetEase’s previous quarterly dividend of $0.72. NetEase’s payout ratio is presently 26.31%.

Analyst Ratings Changes

NTES has been the subject of several recent analyst reports. BNP Paribas Exane initiated coverage on shares of NetEase in a research note on Tuesday, September 22nd. They set an “outperform” rating and a $180.00 price objective for the company. Weiss Ratings cut NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Morgan Stanley reissued an “overweight” rating and set a $163.00 target price on shares of NetEase in a research note on Monday, September 28th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.86.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a China-based internet technology company founded in 1997 by William Ding, who serves as the company’s chief executive officer and director. The company develops and operates online services for consumers in China and international markets.

NetEase’s primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.