Paul William Boltz, Jr. Sells 10,000 Shares of NetEase (NASDAQ:NTES) Stock

NetEase, Inc. (NASDAQ:NTES) 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 shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NetEase Trading Up 1.2%

Shares of NASDAQ:NTES opened at $129.70 on Thursday. NetEase, Inc. has a 12 month low of $106.06 and a 12 month high of $159.55. The firm has a 50 day moving average of $119.25 and a 200-day moving average of $122.91. The stock has a market capitalization of $82.80 billion, a PE ratio of 17.22, a PEG ratio of 1.66 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.2%. NetEase’s dividend payout ratio is 38.11%.

Institutional Investors Weigh In On NetEase

A number of hedge funds have recently modified their holdings of NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NetEase by 68,860.6% in 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 buying an additional 8,538,717 shares during the last quarter. Bank of America Corp DE lifted its position in shares of NetEase by 111.4% during the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock valued at $148,356,000 after buying an additional 698,318 shares during the last quarter. Bank of Montreal Can grew its stake in shares of NetEase by 1,636.4% during the 3rd quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock worth $100,702,000 after acquiring an additional 624,399 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in NetEase in the 4th quarter worth about $44,214,000. Finally, Renaissance Technologies LLC increased its holdings in NetEase by 25.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock worth $152,595,000 after acquiring an additional 274,500 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

NTES has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 price target on shares of NetEase in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a report on Thursday, June 18th. Finally, The Goldman Sachs Group set a $169.00 price objective on NetEase in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.38.

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.