Assetmark Inc. Purchases 10,238 Shares of NetEase, Inc. $NTES

Assetmark Inc. boosted its position in NetEase, Inc. (NASDAQ:NTES) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 141,107 shares of the technology company’s stock after purchasing an additional 10,238 shares during the period. Assetmark Inc.’s holdings in NetEase were worth $15,796,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Allworth Financial LP increased its position in shares of NetEase by 15.2% during the 3rd quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock valued at $109,000 after purchasing an additional 95 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of NetEase by 5.9% in the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock worth $256,000 after buying an additional 103 shares during the last quarter. Spire Wealth Management grew its position in NetEase by 31.3% during the fourth quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock valued at $60,000 after buying an additional 104 shares during the period. Cookson Peirce & Co. Inc. increased its holdings in NetEase by 2.2% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company’s stock valued at $683,000 after buying an additional 106 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NetEase by 10.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company’s stock valued at $154,000 after buying an additional 108 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTES has been the topic of several analyst reports. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research note on Monday, July 6th. Morgan Stanley reissued an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research report on Tuesday, May 26th. Benchmark restated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Zacks Research raised NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average target price of $158.38.

NetEase Price Performance

Shares of NASDAQ NTES opened at $131.29 on Monday. The stock has a market cap of $83.82 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55. The firm has a fifty day moving average price of $123.13 and a 200-day moving average price of $122.32.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, June 5th. NetEase’s dividend payout ratio is presently 38.11%.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the sale, the general counsel directly owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.