Atria Investments Inc Sells 1,313 Shares of NetEase, Inc. (NASDAQ:NTES)

Atria Investments Inc lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 29.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,092 shares of the technology company’s stock after selling 1,313 shares during the period. Atria Investments Inc’s holdings in NetEase were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTES. Assetmark Inc. grew its holdings in NetEase by 27.3% during the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock worth $3,597,000 after acquiring an additional 8,248 shares during the last quarter. Veritas Asset Management LLP acquired a new position in shares of NetEase during the third quarter worth approximately $5,150,000. Van ECK Associates Corp grew its stake in shares of NetEase by 12.3% during the third quarter. Van ECK Associates Corp now owns 666,411 shares of the technology company’s stock valued at $62,316,000 after purchasing an additional 72,988 shares during the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of NetEase by 54.4% in the third quarter. Coronation Fund Managers Ltd. now owns 161,780 shares of the technology company’s stock valued at $15,128,000 after purchasing an additional 56,997 shares in the last quarter. Finally, Caas Capital Management LP raised its position in NetEase by 225.3% in the 3rd quarter. Caas Capital Management LP now owns 16,267 shares of the technology company’s stock worth $1,521,000 after purchasing an additional 11,267 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $86.45 on Friday. The firm’s 50 day simple moving average is $84.75 and its 200 day simple moving average is $88.63. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $115.43. The company has a market capitalization of $55.51 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 3.24 and a beta of 0.57.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, beating the consensus estimate of $1.62 by $10.43. The firm had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. NetEase had a net margin of 26.02% and a return on equity of 20.82%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.75 earnings per share. Equities research analysts expect that NetEase, Inc. will post 6.08 earnings per share for the current year.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

Analysts Set New Price Targets

A number of research analysts have commented on NTES shares. Citigroup increased their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group cut their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Barclays lowered their price target on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, August 26th. Bank of America dropped their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Finally, Benchmark reduced their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.29.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.