NetEase, Inc. $NTES Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC raised its position in NetEase, Inc. (NASDAQ:NTES) by 64.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 581,720 shares of the technology company’s stock after acquiring an additional 227,433 shares during the quarter. Lazard Asset Management LLC owned approximately 0.09% of NetEase worth $65,118,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of NetEase by 68,860.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock valued at $1,299,684,000 after acquiring an additional 8,538,717 shares during the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in shares of NetEase during the fourth quarter worth about $44,214,000. Renaissance Technologies LLC lifted its holdings in shares of NetEase by 25.2% in the 1st 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 last quarter. Man Group plc boosted its position in shares of NetEase by 33.3% in the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock valued at $132,313,000 after purchasing an additional 245,872 shares during the period. Finally, Temasek Holdings Private Ltd grew its stake in NetEase by 50.7% during the 1st quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock worth $79,266,000 after buying an additional 238,386 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. Weiss Ratings upgraded shares of NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. The Goldman Sachs Group set a $169.00 target price on shares of NetEase in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average price target of $158.38.

Insider Transactions at NetEase

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the transaction, the general counsel directly owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 54.70% of the stock is owned by corporate insiders.

NetEase Stock Performance

Shares of NTES opened at $123.77 on Tuesday. The stock has a market capitalization of $79.24 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.55 and a beta of 0.72. The company’s fifty day moving average is $124.17 and its two-hundred day moving average is $121.57. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, June 5th. NetEase’s payout ratio is 38.11%.

NetEase Company 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.