Whale Rock Capital Management LLC trimmed its position in NetEase Inc (NASDAQ:NTES) by 22.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,456 shares of the technology company’s stock after selling 46,998 shares during the quarter. NetEase comprises 2.5% of Whale Rock Capital Management LLC’s holdings, making the stock its 18th largest position. Whale Rock Capital Management LLC’s holdings in NetEase were worth $55,023,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. TT International purchased a new position in shares of NetEase in the third quarter worth about $17,715,000. AXA raised its stake in shares of NetEase by 5.9% in the third quarter. AXA now owns 32,431 shares of the technology company’s stock worth $8,555,000 after purchasing an additional 1,820 shares during the last quarter. Capital International Investors purchased a new position in shares of NetEase in the third quarter worth about $180,472,000. Dimensional Fund Advisors LP raised its stake in shares of NetEase by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 429,555 shares of the technology company’s stock worth $113,230,000 after purchasing an additional 1,894 shares during the last quarter. Finally, Flossbach Von Storch AG raised its stake in shares of NetEase by 116.7% in the fourth quarter. Flossbach Von Storch AG now owns 3,250 shares of the technology company’s stock worth $1,121,000 after purchasing an additional 1,750 shares during the last quarter. Hedge funds and other institutional investors own 51.29% of the company’s stock.
Shares of NetEase Inc (NASDAQ NTES) opened at $318.50 on Thursday. NetEase Inc has a 1-year low of $253.20 and a 1-year high of $377.64. The company has a market capitalization of $41,165.31, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 1.76 and a beta of 0.84.
NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.03). NetEase had a net margin of 19.64% and a return on equity of 24.93%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.27 billion. research analysts anticipate that NetEase Inc will post 13.44 EPS for the current fiscal year.
NetEase announced that its Board of Directors has approved a stock repurchase plan on Wednesday, November 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 23rd were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.48%. The ex-dividend date was Thursday, February 22nd. NetEase’s payout ratio is currently 25.10%.
Several brokerages have recently issued reports on NTES. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $375.44 price objective for the company in a research note on Wednesday, January 10th. BidaskClub cut NetEase from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Benchmark reduced their price objective on NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, November 16th. Deutsche Bank set a $334.00 target price on NetEase and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, CLSA raised NetEase from a “sell” rating to an “underperform” rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $344.87.
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NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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