NetEase (NASDAQ:NTES) Upgraded at Wall Street Zen

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

Other equities analysts also recently issued research reports about the company. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Weiss Ratings raised NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. The Goldman Sachs Group set a $169.00 price target on NetEase in a report on Wednesday, July 1st. 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, Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. One equities research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.38.

NetEase Stock Performance

NASDAQ:NTES opened at $119.55 on Friday. The stock has a 50-day simple moving average of $123.97 and a 200 day simple moving average of $121.89. NetEase has a 52-week low of $106.06 and a 52-week high of $159.55. The company has a market cap of $76.54 billion, a PE ratio of 15.88, a PEG ratio of 1.56 and a beta of 0.72.

Insider Buying and Selling

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’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 sale, the general counsel directly owned 12,223 shares in the company, valued at $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 54.70% of the stock is owned by insiders.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of NetEase during the 1st quarter valued at about $25,000. Atlas Capital Advisors Inc. bought a new position in shares of NetEase during the 4th quarter worth approximately $47,000. Smartleaf Asset Management LLC boosted its holdings in shares of NetEase by 3,381.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after buying an additional 372 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of NetEase by 7,480.0% in the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock valued at $52,000 after acquiring an additional 374 shares in the last quarter. Finally, MidFirst Bank bought a new stake in shares of NetEase in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.