NetEase (NASDAQ:NTES) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of NetEase (NASDAQ:NTESFree Report) from a hold rating to a buy rating in a research report released on Saturday morning.

Several other equities analysts also recently issued reports on the stock. Benchmark reissued a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Morgan Stanley restated an “overweight” rating and set a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. The Goldman Sachs Group set a $169.00 target price on NetEase in a research note on Wednesday, July 1st. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Finally, Weiss Ratings upgraded shares of NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.38.

Read Our Latest Research Report on NetEase

NetEase Trading Down 0.5%

NTES stock opened at $119.55 on Friday. NetEase has a 1-year low of $106.06 and a 1-year high of $159.55. The business’s 50 day moving average is $123.97 and its 200-day moving average is $121.89. The firm has a market cap of $76.54 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.55 and a beta of 0.72.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, June 5th. NetEase’s dividend payout ratio is currently 38.11%.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction 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 completion of the sale, the general counsel 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 54.70% of the company’s stock.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in NetEase in the first quarter valued at approximately $25,000. Atlas Capital Advisors Inc. bought a new stake in shares of NetEase in the 4th quarter valued at $47,000. Smartleaf Asset Management LLC raised its stake in 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 during the period. Harbour Investments Inc. increased its holdings in shares of NetEase by 7,480.0% in the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $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 fourth quarter worth about $57,000. Institutional investors own 11.07% of the company’s stock.

NetEase Company Profile

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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.

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Analyst Recommendations for NetEase (NASDAQ:NTES)

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