NetEase (NASDAQ:NTES) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NetEase (NASDAQ:NTES) from a hold rating to a buy rating in a report published on Saturday.

Several other research firms also recently commented on NTES. Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Morgan Stanley restated an “overweight” rating and issued a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Weiss Ratings raised shares of NetEase from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group set a $169.00 target price on shares of NetEase in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.38.

NetEase Trading Up 3.5%

Shares of NASDAQ NTES opened at $123.77 on Friday. The stock has a market cap of $79.24 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.55 and a beta of 0.72. NetEase has a twelve month low of $106.06 and a twelve month high of $159.55. The stock has a 50 day moving average of $124.17 and a two-hundred day moving average of $121.57.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.3%. NetEase’s payout ratio is currently 38.11%.

Insider Buying and Selling

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s 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 transaction, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 54.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of NetEase during the 1st quarter worth approximately $25,000. Atlas Capital Advisors Inc. purchased a new position in NetEase in the 4th quarter valued at approximately $47,000. Smartleaf Asset Management LLC increased its stake in NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock valued at $51,000 after purchasing an additional 372 shares in the last quarter. Harbour Investments Inc. raised its holdings in NetEase by 7,480.0% during the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after purchasing an additional 374 shares during the last quarter. Finally, MidFirst Bank acquired a new position in NetEase during the fourth quarter worth $57,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.