Alkeon Capital Management LLC Lowers Position in NetEase, Inc. (NASDAQ:NTES)

Alkeon Capital Management LLC decreased its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 97.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,638 shares of the technology company’s stock after selling 849,000 shares during the period. Alkeon Capital Management LLC’s holdings in NetEase were worth $1,743,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NetEase by 13,747.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock valued at $585,227,000 after acquiring an additional 6,213,248 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of NetEase by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock valued at $161,789,000 after purchasing an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in shares of NetEase by 109.0% during the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after purchasing an additional 632,896 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in NetEase by 7.8% during the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after purchasing an additional 82,474 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in NetEase by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock worth $73,811,000 after purchasing an additional 306,500 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NTES. Bank of America cut their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Jefferies Financial Group reduced their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Benchmark decreased their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Citigroup raised their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.29.

NetEase Stock Performance

Shares of NTES opened at $86.56 on Friday. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $115.00. The business has a 50-day moving average of $85.44 and a 200 day moving average of $88.31. The firm has a market cap of $55.59 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 3.20 and a beta of 0.57.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.435 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 2.01%. NetEase’s payout ratio is 29.22%.

NetEase Company Profile

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.