Penserra Capital Management LLC Sells 6,448 Shares of NetEase, Inc. $NTES

Penserra Capital Management LLC lowered its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 43.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,226 shares of the technology company’s stock after selling 6,448 shares during the quarter. Penserra Capital Management LLC’s holdings in NetEase were worth $1,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NTES. NewSquare Capital LLC increased its holdings in shares of NetEase by 137.2% in the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after buying an additional 107 shares during the last quarter. Private Trust Co. NA grew its position in NetEase by 266.0% in the second quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock worth $26,000 after acquiring an additional 141 shares in the last quarter. Cornerstone Planning Group LLC bought a new stake in NetEase during the third quarter worth approximately $33,000. Richardson Financial Services Inc. bought a new stake in NetEase during the second quarter worth approximately $33,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in NetEase during the third quarter valued at approximately $38,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Trading Up 2.2%

NASDAQ:NTES opened at $122.92 on Friday. The company has a market cap of $77.88 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. NetEase, Inc. has a twelve month low of $88.54 and a twelve month high of $159.55. The stock has a fifty day simple moving average of $136.66 and a 200-day simple moving average of $139.60.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, December 5th. NetEase’s dividend payout ratio is currently 28.99%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Benchmark lifted their target price on NetEase from $145.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Barclays set a $135.00 target price on shares of NetEase and gave the stock an “equal weight” rating in a report on Friday, November 21st. Finally, JPMorgan Chase & Co. upgraded shares of NetEase from a “neutral” rating to an “overweight” rating and upped their price target for the company from $138.00 to $190.00 in a report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.13.

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.