NetEase (NASDAQ:NTES) Sees Strong Trading Volume – Time to Buy?

NetEase, Inc. (NASDAQ:NTES) shares saw strong trading volume on Wednesday . 1,223,003 shares were traded during trading, an increase of 42% from the previous session’s volume of 863,268 shares.The stock last traded at $124.0020 and had previously closed at $121.81.

Analyst Ratings Changes

A number of research firms recently commented on NTES. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Zacks Research raised NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Wall Street Zen raised NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.38.

NetEase Stock Up 0.4%

The stock has a 50 day moving average of $117.56 and a 200 day moving average of $124.19. The company has a market capitalization of $78.08 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.63 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, June 5th. NetEase’s payout ratio is currently 38.11%.

Hedge Funds Weigh In On NetEase

Institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in NetEase in the first quarter valued at approximately $25,000. Atlas Capital Advisors Inc. acquired a new position in NetEase in the fourth quarter valued at approximately $47,000. Smartleaf Asset Management LLC lifted its stake in NetEase by 3,381.8% in the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock valued at $51,000 after buying an additional 372 shares during the period. Harbour Investments Inc. lifted its stake in NetEase by 7,480.0% in the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock valued at $52,000 after buying an additional 374 shares during the period. Finally, MidFirst Bank acquired a new position in NetEase in the fourth quarter valued at approximately $57,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.