34,301 Shares in NetEase, Inc. $NTES Bought by Tidal Investments LLC

Tidal Investments LLC bought a new stake in NetEase, Inc. (NASDAQ:NTES) in the second quarter, HoldingsChannel reports. The fund bought 34,301 shares of the technology company’s stock, valued at approximately $4,395,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arkadios Wealth Advisors lifted its position in NetEase by 5.9% during the 4th quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock worth $256,000 after buying an additional 103 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its stake in shares of NetEase by 2.2% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company’s stock worth $683,000 after buying an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of NetEase by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock valued at $87,000 after acquiring an additional 107 shares in the last quarter. Mission Wealth Management LP grew its holdings in shares of NetEase by 4.4% in the 2nd quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company’s stock valued at $337,000 after acquiring an additional 110 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of NetEase by 0.5% in the fourth quarter. Vontobel Holding Ltd. now owns 21,075 shares of the technology company’s stock valued at $2,900,000 after acquiring an additional 112 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Price Performance

NTES opened at $115.61 on Monday. NetEase, Inc. has a 12-month low of $106.06 and a 12-month high of $159.55. The stock has a market cap of $74.02 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.34 and a beta of 0.72. The business has a 50 day moving average of $125.87 and a 200-day moving average of $120.45.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 annualized dividend and a yield of 1.7%. NetEase’s dividend payout ratio (DPR) is currently 26.31%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NTES shares. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Weiss Ratings cut NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.57.

Insider Buying and Selling at NetEase

In other NetEase news, VP Aileen Mo sold 716 shares of NetEase stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total transaction of $86,378.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel William Jr sold 10,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the transaction, the general counsel directly owned 12,223 shares in the company, valued at $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 54.70% of the company’s stock.

NetEase Company Profile

NetEase, Inc is a Chinese internet and technology company that develops and operates online games, digital content services and other internet-related products. Founded in 1997 by Ding Lei, the company has grown into a global developer and publisher of games for personal computers and mobile devices.

NetEase Games is the company’s primary business and offers original titles across genres including role-playing, strategy, action and competitive gaming. The company also publishes games through partnerships with international developers and operates game studios in China and overseas.