Arrowstreet Capital Limited Partnership Decreases Holdings in NetEase, Inc. $NTES

Arrowstreet Capital Limited Partnership lowered its position in NetEase, Inc. (NASDAQ:NTES) by 32.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,218,256 shares of the technology company’s stock after selling 590,580 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.19% of NetEase worth $167,656,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Range Financial Group LLC purchased a new stake in shares of NetEase during the fourth quarter worth $1,759,000. American Century Companies Inc. boosted its stake in NetEase by 7.3% in the 3rd quarter. American Century Companies Inc. now owns 803,379 shares of the technology company’s stock worth $122,106,000 after purchasing an additional 54,929 shares during the period. Ovata Capital Management Ltd boosted its stake in NetEase by 228.6% in the 3rd quarter. Ovata Capital Management Ltd now owns 25,300 shares of the technology company’s stock worth $3,850,000 after purchasing an additional 17,600 shares during the period. Hel Ved Capital Management Ltd boosted its stake in NetEase by 172.9% in the 3rd quarter. Hel Ved Capital Management Ltd now owns 35,200 shares of the technology company’s stock worth $5,350,000 after purchasing an additional 22,300 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in NetEase by 22.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 67,211 shares of the technology company’s stock worth $9,250,000 after purchasing an additional 12,173 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

NTES opened at $125.93 on Tuesday. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55. The stock has a market capitalization of $80.40 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.63 and a beta of 0.72. The stock’s 50 day moving average price is $117.38 and its 200-day moving average price is $124.30.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, June 5th. NetEase’s payout ratio is 38.11%.

Wall Street Analyst Weigh In

Several brokerages have commented on NTES. Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Morgan Stanley restated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Wall Street Zen upgraded NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $157.38.

About NetEase

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.