NetEase, Inc. (NASDAQ:NTES) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of NetEase, Inc. (NASDAQ:NTES) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $158.3750.

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

Insiders Place Their Bets

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction 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 sale, the general counsel owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. This trade represents a 45.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 54.70% of the stock is owned by insiders.

Hedge Funds Weigh In On NetEase

A number of institutional investors have recently modified their holdings of NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NetEase by 68,860.6% during the 3rd 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 buying an additional 8,538,717 shares during the last quarter. Renaissance Technologies LLC grew its position in NetEase by 25.2% in the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after acquiring an additional 274,500 shares during the last quarter. Bank of America Corp DE raised its stake in NetEase by 111.4% during the first quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after acquiring an additional 698,318 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in NetEase by 16.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock worth $120,697,000 after acquiring an additional 155,784 shares in the last quarter. Finally, Man Group plc raised its stake in NetEase by 7.3% during the third quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock worth $160,368,000 after acquiring an additional 71,966 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Performance

NASDAQ:NTES opened at $129.76 on Thursday. The company has a market cap of $82.84 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.66 and a beta of 0.72. NetEase has a fifty-two week low of $106.06 and a fifty-two week high of $159.55. The stock has a fifty day moving average price of $122.56 and a 200-day moving average price of $122.43.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders 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 payout ratio is currently 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.