Dimensional Fund Advisors LP Has $79.90 Million Stock Position in NetEase, Inc. (NASDAQ:NTES)

Posted by Defense World Staff on May 25th, 2023

Dimensional Fund Advisors LP trimmed its stake in shares of NetEase, Inc. (NASDAQ:NTES – Get Rating) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,100,188 shares of the technology company’s stock after selling 11,197 shares during the quarter. Dimensional Fund Advisors LP owned 0.17% of NetEase worth $79,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Huntington National Bank boosted its holdings in NetEase by 36.7% during the fourth quarter. Huntington National Bank now owns 432 shares of the technology company’s stock valued at $31,000 after purchasing an additional 116 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in NetEase by 9.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,628 shares of the technology company’s stock valued at $118,000 after purchasing an additional 138 shares in the last quarter. ETF Managers Group LLC boosted its holdings in NetEase by 4.3% during the third quarter. ETF Managers Group LLC now owns 5,470 shares of the technology company’s stock valued at $414,000 after purchasing an additional 227 shares in the last quarter. Signaturefd LLC boosted its holdings in NetEase by 5.9% during the fourth quarter. Signaturefd LLC now owns 4,266 shares of the technology company’s stock valued at $310,000 after purchasing an additional 236 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of NetEase by 0.4% in the 3rd quarter. Boston Partners now owns 59,968 shares of the technology company’s stock worth $80,000 after acquiring an additional 259 shares in the last quarter. 13.50% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Down 0.3 %

NASDAQ:NTES opened at $83.49 on Thursday. The stock’s fifty day moving average price is $88.56 and its two-hundred day moving average price is $81.96. NetEase, Inc. has a 52-week low of $53.09 and a 52-week high of $108.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.30 and a current ratio of 2.32. The company has a market cap of $54.67 billion, a price-to-earnings ratio of 18.35 and a beta of 0.50.

NetEase (NASDAQ:NTES – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.24). NetEase had a return on equity of 18.49% and a net margin of 20.99%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.69 billion. On average, analysts anticipate that NetEase, Inc. will post 4.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NTES. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $100.00 in a report on Tuesday, February 28th. Citigroup boosted their target price on NetEase from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Finally, StockNews.com began coverage on NetEase in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NetEase presently has an average rating of “Buy” and an average price target of $108.80.

NetEase Company Profile

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NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.