NetEase (NASDAQ:NTES) Downgraded to “Hold” Rating by Wall Street Zen

NetEase (NASDAQ:NTES) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Monday.

A number of other research firms have also commented on NTES. Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a report on Thursday, June 18th. Morgan Stanley reissued an “overweight” rating and set a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, NetEase has a consensus rating of “Moderate Buy” and an average price target of $158.38.

NetEase Stock Performance

NASDAQ:NTES opened at $127.24 on Monday. The firm has a market cap of $81.23 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.65 and a beta of 0.72. NetEase has a 52 week low of $106.06 and a 52 week high of $159.55. The firm’s 50-day simple moving average is $119.78 and its 200 day simple moving average is $122.75.

Insider Buying and Selling

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction that occurred on Monday, June 29th. The shares were 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 of the company’s stock, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 54.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of NetEase during the 1st quarter valued at $25,000. Atlas Capital Advisors Inc. bought a new stake in NetEase during the 4th quarter worth $47,000. Smartleaf Asset Management LLC increased its holdings in NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after purchasing an additional 372 shares in the last quarter. Harbour Investments Inc. increased its holdings in NetEase by 7,480.0% in the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after purchasing an additional 374 shares in the last quarter. Finally, MidFirst Bank bought a new position in NetEase in the fourth quarter valued at about $57,000. 11.07% of the stock is currently owned by institutional investors.

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.