NetEase (NASDAQ:NTES) Stock Moved Down to “Strong Sell” by Zacks Research

NetEase (NASDAQ:NTES) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

NTES has been the subject of several other research reports. The Goldman Sachs Group set a $169.00 price objective on NetEase in a report on Wednesday, July 1st. BNP Paribas Exane started coverage on NetEase in a report on Tuesday, September 22nd. They issued an “outperform” rating and a $180.00 target price on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $160.00 target price on shares of NetEase in a report on Friday, August 21st. Nomura raised their target price on NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Finally, Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NetEase has an average rating of “Moderate Buy” and an average target price of $159.86.

NetEase Price Performance

NASDAQ NTES opened at $122.98 on Tuesday. The stock has a market capitalization of $78.74 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.47 and a beta of 0.68. NetEase has a 1-year low of $106.06 and a 1-year high of $149.20. The business’s fifty day moving average price is $121.11 and its 200-day moving average price is $121.59.

Insider Buying and Selling

In other NetEase news, VP Aileen Mo sold 716 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total value of $86,378.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 54.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NTES. V Square Quantitative Management LLC bought a new stake in shares of NetEase during the 1st quarter valued at $25,000. Allworth Financial LP increased its stake in shares of NetEase by 210.2% in the 2nd quarter. Allworth Financial LP now owns 667 shares of the technology company’s stock worth $85,000 after purchasing an additional 452 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of NetEase by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock worth $87,000 after purchasing an additional 107 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in NetEase in the 2nd quarter worth $102,000. Finally, Strategic Investment Advisors MI bought a new position in NetEase in the 1st quarter worth $116,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Company Profile

NetEase, Inc is a China-based internet and technology company founded in 1997 by William Ding. The company develops and operates online games for personal computers and mobile devices, serving players in China and international markets.

NetEase Games is the company’s primary business and offers original titles such as Fantasy Westward Journey, Justice, and Identity V, along with games developed through partnerships and international studios. NetEase also publishes and distributes games in overseas markets through its global operations.

Beyond gaming, NetEase operates NetEase Cloud Music, an online music streaming and social platform, and Youdao, which provides educational technology, learning tools, and related content and services.