Mirae Asset Global Investments Co. Ltd. Sells 6,147 Shares of NetEase, Inc. $NTES

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of NetEase, Inc. (NASDAQ:NTES) by 17.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 29,229 shares of the technology company’s stock after selling 6,147 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in NetEase were worth $3,745,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. bought a new stake in shares of NetEase during the second quarter valued at approximately $614,000. Mission Wealth Management LP raised its holdings in NetEase by 4.4% in the second quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company’s stock worth $337,000 after purchasing an additional 110 shares in the last quarter. Sowell Financial Services LLC bought a new position in NetEase in the second quarter worth $215,000. Handelsbanken Fonder AB lifted its position in NetEase by 2.8% during the second quarter. Handelsbanken Fonder AB now owns 434,115 shares of the technology company’s stock valued at $55,627,000 after buying an additional 12,000 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its position in NetEase by 58.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,640 shares of the technology company’s stock valued at $466,000 after buying an additional 1,344 shares during the period. Institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a research report on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, NetEase has a consensus rating of “Moderate Buy” and an average target price of $158.38.

NetEase Trading Down 1.2%

NASDAQ NTES opened at $122.65 on Friday. NetEase, Inc. has a 12 month low of $106.06 and a 12 month high of $159.55. The stock has a market cap of $78.53 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.61 and a beta of 0.73. The stock’s fifty day moving average price is $126.51 and its 200-day moving average price is $120.77.

NetEase Cuts Dividend

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

Insider Transactions at NetEase

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the transaction, the general counsel directly owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 54.70% of the company’s stock.

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.