NetEase, Inc. (NASDAQ:NTES) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of NetEase, Inc. (NASDAQ:NTES) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $158.3750.

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 target price on shares of NetEase in a research report on Tuesday, May 26th. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a research report on Wednesday, July 1st. Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Zacks Research cut shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Wall Street Zen downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd.

NetEase Stock Performance

NTES opened at $125.12 on Monday. The stock has a market capitalization of $80.11 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. The stock’s 50 day moving average price is $126.62 and its 200-day moving average price is $120.72. NetEase has a 52-week low of $106.06 and a 52-week high of $159.55.

NetEase Cuts Dividend

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

Insiders Place Their Bets

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the transaction, the general counsel owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 54.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NetEase

Hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of NetEase by 68,860.6% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock valued at $1,299,684,000 after acquiring an additional 8,538,717 shares in the last quarter. Renaissance Technologies LLC boosted its stake in NetEase by 25.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock worth $152,595,000 after purchasing an additional 274,500 shares in the last quarter. Bank of America Corp DE boosted its stake in NetEase by 111.4% in the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after purchasing an additional 698,318 shares in the last quarter. Dimensional Fund Advisors LP grew its position in NetEase by 16.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock valued at $120,697,000 after purchasing an additional 155,784 shares during the last quarter. Finally, Man Group plc increased its stake in NetEase by 7.3% during the 3rd quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock valued at $160,368,000 after purchasing an additional 71,966 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

NetEase Company Profile

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.