AI Squared Management Ltd Invests $7.32 Million in NetEase, Inc. (NASDAQ:NTES)

AI Squared Management Ltd bought a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 78,600 shares of the technology company’s stock, valued at approximately $7,322,000. NetEase accounts for approximately 9.3% of AI Squared Management Ltd’s holdings, making the stock its 4th biggest position.

Several other institutional investors have also bought and sold shares of NTES. Assenagon Asset Management S.A. increased its holdings in shares of NetEase by 451.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock worth $47,647,000 after buying an additional 418,677 shares in the last quarter. WT Asset Management Ltd raised its position in NetEase by 381.1% in the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after purchasing an additional 789,499 shares during the last quarter. FDx Advisors Inc. boosted its stake in NetEase by 11.6% in the third quarter. FDx Advisors Inc. now owns 8,352 shares of the technology company’s stock worth $837,000 after purchasing an additional 871 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of NetEase during the third quarter worth $12,017,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of NetEase during the third quarter worth $1,102,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on NTES shares. Morgan Stanley cut their price target on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, April 12th. HSBC dropped their price objective on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Finally, StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $126.00.

NetEase Trading Up 2.2 %

Shares of NTES stock traded up $2.15 on Thursday, hitting $98.78. The stock had a trading volume of 797,411 shares, compared to its average volume of 1,712,171. The company has a fifty day moving average price of $100.76 and a two-hundred day moving average price of $102.59. The firm has a market cap of $63.69 billion, a P/E ratio of 15.27, a PEG ratio of 0.94 and a beta of 0.58. NetEase, Inc. has a twelve month low of $80.79 and a twelve month high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.20). The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. On average, analysts expect that NetEase, Inc. will post 7.04 earnings per share for the current year.

NetEase Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.37%. NetEase’s payout ratio is presently 67.93%.

NetEase Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.