Goldman Sachs Group Inc. Sells 2,427,785 Shares of NetEase, Inc. (NASDAQ:NTES)

Goldman Sachs Group Inc. lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTESGet Rating) by 38.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,874,906 shares of the technology company’s stock after selling 2,427,785 shares during the quarter. Goldman Sachs Group Inc. owned about 0.58% of NetEase worth $394,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NTES. Captrust Financial Advisors boosted its position in shares of NetEase by 131.0% during the 3rd quarter. Captrust Financial Advisors now owns 335 shares of the technology company’s stock valued at $29,000 after acquiring an additional 190 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of NetEase during the 4th quarter valued at about $31,000. ICICI Prudential Asset Management Co Ltd purchased a new position in shares of NetEase during the 4th quarter valued at about $71,000. Fieldpoint Private Securities LLC raised its holdings in shares of NetEase by 72.3% during the 4th quarter. Fieldpoint Private Securities LLC now owns 703 shares of the technology company’s stock valued at $72,000 after buying an additional 295 shares in the last quarter. Finally, Solstein Capital LLC raised its holdings in shares of NetEase by 1,423.5% during the 4th quarter. Solstein Capital LLC now owns 1,493 shares of the technology company’s stock valued at $152,000 after buying an additional 1,395 shares in the last quarter. Hedge funds and other institutional investors own 21.18% of the company’s stock.

Shares of NTES traded up $4.50 during mid-day trading on Friday, hitting $92.46. 2,028,696 shares of the company’s stock traded hands, compared to its average volume of 1,840,315. The company has a quick ratio of 2.22, a current ratio of 2.24 and a debt-to-equity ratio of 0.01. NetEase, Inc. has a 1 year low of $68.62 and a 1 year high of $120.84. The firm has a market capitalization of $61.94 billion, a P/E ratio of 23.83, a PEG ratio of 1.09 and a beta of 0.41. The business’s 50-day moving average price is $90.47 and its 200-day moving average price is $97.54.

NetEase (NASDAQ:NTESGet Rating) last posted its earnings results on Thursday, February 24th. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.57. NetEase had a return on equity of 18.79% and a net margin of 19.25%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Sell-side analysts anticipate that NetEase, Inc. will post 3.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Thursday, March 10th. This is a boost from NetEase’s previous quarterly dividend of $0.23. This represents a $1.62 annualized dividend and a dividend yield of 1.75%. NetEase’s payout ratio is 41.49%.

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on NetEase in a report on Sunday, April 10th. They set a “buy” rating and a $132.00 price objective on the stock. StockNews.com assumed coverage on NetEase in a report on Thursday, March 31st. They set a “buy” rating on the stock. JPMorgan Chase & Co. cut NetEase from an “overweight” rating to an “underweight” rating in a report on Monday, March 14th. Citigroup decreased their price target on NetEase from $136.00 to $133.00 in a research note on Monday, February 14th. Finally, Zacks Investment Research raised NetEase from a “sell” rating to a “hold” rating in a research note on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NetEase has an average rating of “Buy” and a consensus price target of $128.11.

NetEase Profile (Get Rating)

NetEase, Inc provides online services focusing on gaming, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Games Services, Youdao, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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