Fox Run Management L.L.C. Acquires New Shares in NetEase, Inc. $NTES

Fox Run Management L.L.C. acquired a new stake in NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,126 shares of the technology company’s stock, valued at approximately $981,000.

A number of other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in NetEase by 19.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 457 shares of the technology company’s stock worth $69,000 after purchasing an additional 74 shares in the last quarter. Hardy Reed LLC increased its holdings in NetEase by 0.9% during the 3rd quarter. Hardy Reed LLC now owns 8,538 shares of the technology company’s stock worth $1,298,000 after purchasing an additional 79 shares in the last quarter. Main Street Research LLC increased its holdings in NetEase by 2.1% during the 3rd quarter. Main Street Research LLC now owns 4,085 shares of the technology company’s stock worth $621,000 after purchasing an additional 85 shares in the last quarter. Allworth Financial LP increased its holdings in NetEase by 15.2% during the 3rd quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock worth $109,000 after purchasing an additional 95 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in NetEase by 31.3% during the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NTES shares. Wall Street Zen upgraded NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Barclays decreased their price objective on NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Nomura decreased their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a report on Friday, February 13th. Morgan Stanley restated an “overweight” rating and issued a $158.00 price objective on shares of NetEase in a report on Tuesday, May 26th. Finally, Citigroup restated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $125.52 on Thursday. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55. The company has a market capitalization of $80.13 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72. The company has a 50-day simple moving average of $116.58 and a 200 day simple moving average of $124.55.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, June 5th. NetEase’s dividend payout ratio (DPR) is 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.