Ovata Capital Management Ltd Reduces Position in NetEase, Inc. $NTES

Ovata Capital Management Ltd lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 56.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,700 shares of the technology company’s stock after selling 10,000 shares during the period. NetEase accounts for approximately 0.2% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 29th biggest position. Ovata Capital Management Ltd’s holdings in NetEase were worth $1,035,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. First Horizon Advisors Inc. grew its stake in NetEase by 1,561.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 515 shares of the technology company’s stock valued at $69,000 after acquiring an additional 484 shares in the last quarter. NewSquare Capital LLC grew its stake in NetEase by 137.2% during the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after acquiring an additional 107 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in NetEase by 3.3% during the 2nd quarter. Bridgewater Advisors Inc. now owns 2,527 shares of the technology company’s stock valued at $332,000 after acquiring an additional 80 shares in the last quarter. Bank of Montreal Can grew its stake in NetEase by 2.0% during the 2nd quarter. Bank of Montreal Can now owns 38,158 shares of the technology company’s stock valued at $5,135,000 after acquiring an additional 739 shares in the last quarter. Finally, GAM Holding AG purchased a new stake in NetEase during the 2nd quarter valued at about $905,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NTES shares. Arete raised shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $138.00 to $190.00 in a report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $161.00 target price on NetEase and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Barclays set a $120.00 price target on NetEase and gave the company an “equal weight” rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.30.

NetEase Stock Performance

NetEase stock opened at $139.10 on Thursday. The company’s 50 day simple moving average is $146.88 and its 200-day simple moving average is $132.87. The company has a market capitalization of $88.13 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. NetEase, Inc. has a 1 year low of $75.88 and a 1 year high of $159.55.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase’s payout ratio is 30.72%.

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.