Y Intercept Hong Kong Ltd Purchases New Stake in NetEase, Inc. $NTES

Y Intercept Hong Kong Ltd purchased a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 71,766 shares of the technology company’s stock, valued at approximately $8,033,000.

A number of other large investors have also added to or reduced their stakes in the company. Leonteq Securities AG boosted its holdings in shares of NetEase by 91.1% during the first quarter. Leonteq Securities AG now owns 9,155 shares of the technology company’s stock worth $1,025,000 after purchasing an additional 4,365 shares during the period. Keybank National Association OH increased its holdings in NetEase by 3.1% during the 1st quarter. Keybank National Association OH now owns 7,565 shares of the technology company’s stock valued at $847,000 after purchasing an additional 227 shares during the period. Aaron Wealth Advisors LLC grew its position in shares of NetEase by 147.5% in the 1st quarter. Aaron Wealth Advisors LLC now owns 5,834 shares of the technology company’s stock worth $653,000 after buying an additional 3,477 shares during the last quarter. Arta Finance Wealth Management LLC increased its stake in shares of NetEase by 13.5% during the first quarter. Arta Finance Wealth Management LLC now owns 2,399 shares of the technology company’s stock valued at $269,000 after buying an additional 286 shares during the period. Finally, Ritholtz Wealth Management increased its stake in shares of NetEase by 24.9% during the first quarter. Ritholtz Wealth Management now owns 11,836 shares of the technology company’s stock valued at $1,325,000 after buying an additional 2,363 shares during the period. Institutional investors own 11.07% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’s stock in a transaction on 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 sale, the general counsel owned 12,223 shares in the company, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 54.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Wall Street Zen raised shares of NetEase from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Zacks Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. The Goldman Sachs Group set a $169.00 target price on shares of NetEase in a research report on Wednesday. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $158.38.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $127.24 on Friday. The firm has a market capitalization of $81.23 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.65 and a beta of 0.72. The stock has a 50 day moving average price of $119.78 and a 200-day moving average price of $122.86. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders 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 yield of 2.3%. NetEase’s dividend payout ratio (DPR) is currently 38.11%.

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.