16,476 Shares in NetEase, Inc. $NTES Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 16,476 shares of the technology company’s stock, valued at approximately $1,996,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NTES. Profund Advisors LLC increased its position in NetEase by 0.9% in the 3rd quarter. Profund Advisors LLC now owns 23,208 shares of the technology company’s stock valued at $2,812,000 after acquiring an additional 211 shares during the period. Vise Technologies Inc. grew its stake in shares of NetEase by 9.0% in the third quarter. Vise Technologies Inc. now owns 17,608 shares of the technology company’s stock worth $2,133,000 after purchasing an additional 1,451 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of NetEase during the third quarter valued at $43,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of NetEase by 4.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 17,400 shares of the technology company’s stock valued at $2,120,000 after purchasing an additional 800 shares during the period. Finally, Brookmont Capital Management raised its stake in shares of NetEase by 0.5% during the third quarter. Brookmont Capital Management now owns 25,645 shares of the technology company’s stock valued at $3,107,000 after purchasing an additional 131 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $163.00 price objective on shares of NetEase in a report on Monday, September 28th. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Zacks Research cut shares of NetEase from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Sanford C. Bernstein reiterated an “outperform” rating and set a $160.00 price objective on shares of NetEase in a research note on Friday, August 21st. Finally, Nomura boosted their target price on NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average price target of $159.86.

Insider Activity at NetEase

In related news, VP Aileen Mo sold 716 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total transaction of $86,378.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 54.70% of the stock is owned by insiders.

NetEase Trading Up 2.3%

Shares of NASDAQ NTES opened at $129.45 on Friday. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $149.11. The company has a market capitalization of $82.88 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.53 and a beta of 0.64. The firm has a 50-day moving average of $119.67 and a two-hundred day moving average of $120.89.

NetEase Cuts Dividend

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

About NetEase

NetEase, Inc is a China-based internet technology company best known for developing and publishing online games. Its portfolio includes titles such as Fantasy Westward Journey and Identity V, as well as games for mobile and other platforms. The company serves players in China and international markets.

NetEase also operates NetEase Cloud Music, a music streaming and social platform, and Youdao, which provides digital learning services and education technology products. Its businesses span game development and publishing, music, and online learning.

Founded in 1997 by William Ding, NetEase is headquartered in Hangzhou, China.