Man Group plc Sells 180,287 Shares of NetEase, Inc. $NTES

Man Group plc trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 874,835 shares of the technology company’s stock after selling 180,287 shares during the quarter. Man Group plc’s holdings in NetEase were worth $120,395,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NTES. Atlas Capital Advisors Inc. bought a new stake in shares of NetEase in the 4th quarter worth approximately $47,000. Harbour Investments Inc. boosted its position in shares of NetEase by 7,480.0% in the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after purchasing an additional 374 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after purchasing an additional 372 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of NetEase by 479.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 429 shares of the technology company’s stock worth $65,000 after purchasing an additional 355 shares in the last quarter. Finally, Spire Wealth Management boosted its position in shares of NetEase by 31.3% in the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after purchasing an additional 104 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTES has been the topic of a number of analyst reports. Wall Street Zen raised NetEase from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Zacks Research raised NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price objective on shares of NetEase in a research report on Tuesday, May 26th. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

NetEase Trading Down 0.7%

Shares of NTES opened at $120.90 on Thursday. The firm has a market cap of $77.19 billion, a PE ratio of 16.06, a P/E/G ratio of 1.58 and a beta of 0.72. The firm has a fifty day simple moving average of $117.72 and a two-hundred day simple moving average of $124.07. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $159.55.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.4%. NetEase’s payout ratio is currently 38.11%.

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.