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

Ovata Capital Management Ltd lessened its holdings in NetEase, Inc. (NASDAQ:NTES) by 73.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Range Financial Group LLC acquired a new stake in shares of NetEase during the 4th quarter worth about $1,759,000. American Century Companies Inc. lifted its stake in NetEase by 7.3% during the third quarter. American Century Companies Inc. now owns 803,379 shares of the technology company’s stock worth $122,106,000 after purchasing an additional 54,929 shares during the last quarter. Hel Ved Capital Management Ltd boosted its holdings in NetEase by 172.9% in the third quarter. Hel Ved Capital Management Ltd now owns 35,200 shares of the technology company’s stock valued at $5,350,000 after purchasing an additional 22,300 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in NetEase by 22.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 67,211 shares of the technology company’s stock valued at $9,250,000 after purchasing an additional 12,173 shares in the last quarter. Finally, Institute for Wealth Management LLC. purchased a new position in NetEase in the fourth quarter valued at approximately $3,491,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NTES. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Wall Street Zen downgraded NetEase from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley reiterated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Finally, Benchmark reissued a “buy” rating on shares of NetEase in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $157.38.

NetEase Stock Performance

Shares of NTES opened at $121.33 on Friday. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55. The stock’s 50 day moving average is $118.04 and its two-hundred day moving average is $123.94. The firm has a market capitalization of $77.46 billion, a PE ratio of 16.11, a P/E/G ratio of 1.57 and a beta of 0.72.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, June 5th. NetEase’s dividend payout ratio (DPR) is currently 38.11%.

About NetEase

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.