NetEase, Inc. (NASDAQ:NTES) Receives $158.38 Consensus PT from Brokerages

Shares of NetEase, Inc. (NASDAQ:NTES) have been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $158.3750.

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a report on Monday, July 6th. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a report on Thursday, June 18th.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’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 value of $1,283,000.00. Following the completion of the transaction, the general counsel directly owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 54.70% of the company’s stock.

Hedge Funds Weigh In On NetEase

Several institutional investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after buying an additional 117 shares in the last quarter. Strs Ohio acquired a new position in shares of NetEase in the first quarter worth about $63,000. EverSource Wealth Advisors LLC boosted its stake in shares of NetEase by 106.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after acquiring an additional 280 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of NetEase by 287.4% during the 2nd quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after acquiring an additional 67,934 shares in the last quarter. Finally, Walleye Capital LLC grew its position in shares of NetEase by 670.9% during the 2nd quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock valued at $709,000 after acquiring an additional 4,582 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Trading Up 0.7%

Shares of NASDAQ:NTES opened at $131.29 on Thursday. NetEase has a twelve month low of $106.06 and a twelve month high of $159.55. The company has a market cap of $83.82 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72. The company’s 50 day moving average is $123.13 and its 200 day moving average is $122.44.

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 given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, June 5th. NetEase’s dividend payout ratio (DPR) is currently 38.11%.

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.