NetEase, Inc. (NASDAQ:NTES) Receives $158.38 Average Target Price from Analysts

Shares of NetEase, Inc. (NASDAQ:NTES) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $158.3750.

A number of research analysts have issued reports on NTES shares. Weiss Ratings downgraded NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research note on Wednesday, July 1st. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Morgan Stanley reissued an “overweight” rating and set a $158.00 price target on shares of NetEase in a report on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd.

Insider Activity at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the general counsel directly owned 12,223 shares in the company, valued at $1,568,210.90. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 54.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 worth $1,299,684,000 after acquiring an additional 8,538,717 shares during the period. Bank of America Corp DE grew its position in shares of NetEase by 111.4% in the first quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock valued at $148,356,000 after purchasing an additional 698,318 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in shares of NetEase during the fourth quarter worth about $44,214,000. Renaissance Technologies LLC increased its stake in shares of NetEase by 25.2% during the first 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. Finally, Man Group plc raised its position in shares of NetEase by 33.3% during the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after purchasing an additional 245,872 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Down 3.0%

Shares of NTES stock opened at $124.11 on Monday. The stock has a market cap of $79.46 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.66 and a beta of 0.73. The business has a 50-day simple moving average of $126.51 and a 200-day simple moving average of $120.84. NetEase has a 52-week low of $106.06 and a 52-week high of $159.55.

NetEase Cuts Dividend

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

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.