Temasek Holdings Private Ltd Takes $51.50 Million Position in NetEase, Inc. (NASDAQ:NTES)

Temasek Holdings Private Ltd bought a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 550,718 shares of the technology company’s stock, valued at approximately $51,498,000. Temasek Holdings Private Ltd owned approximately 0.09% of NetEase at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NTES. Mather Group LLC. grew its stake in shares of NetEase by 1,415.0% in the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after acquiring an additional 283 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares during the period. Ariadne Wealth Management LP purchased a new position in NetEase in the second quarter valued at $35,000. Highline Wealth Partners LLC acquired a new position in NetEase during the 3rd quarter worth $45,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in NetEase during the 3rd quarter worth about $70,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

NTES has been the topic of several analyst reports. Benchmark reduced their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Bank of America reduced their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Jefferies Financial Group lowered their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Citigroup lifted their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.29.

NetEase Price Performance

Shares of NTES opened at $90.36 on Friday. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $114.50. The stock has a market cap of $58.03 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. The firm has a fifty day moving average price of $85.89 and a 200 day moving average price of $87.90.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

NetEase 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.