7,200 Shares in NetEase, Inc. (NASDAQ:NTES) Acquired by CastleKnight Management LP

CastleKnight Management LP acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,200 shares of the technology company’s stock, valued at approximately $642,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NTES. Farther Finance Advisors LLC raised its holdings in shares of NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after acquiring an additional 152 shares in the last quarter. Brooklyn Investment Group purchased a new position in NetEase during the 4th quarter valued at about $34,000. UMB Bank n.a. increased its position in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after purchasing an additional 111 shares during the period. Live Oak Investment Partners bought a new stake in shares of NetEase in the 4th quarter valued at about $62,000. Finally, Avior Wealth Management LLC lifted its position in shares of NetEase by 148.9% in the 4th quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock worth $89,000 after purchasing an additional 594 shares during the period. 11.07% of the stock is owned by institutional investors.

NetEase Price Performance

Shares of NTES stock opened at $108.97 on Wednesday. The stock’s fifty day moving average price is $101.31 and its 200 day moving average price is $95.58. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $110.66. The company has a market cap of $69.04 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 3.37 and a beta of 0.66.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. As a group, equities research analysts anticipate that NetEase, Inc. will post 6.91 earnings per share for the current year.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.435 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.60%. NetEase’s dividend payout ratio is currently 76.45%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays lifted their price objective on shares of NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Morgan Stanley boosted their price target on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Bank of America raised their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Benchmark boosted their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.67.

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.