Shares of NetEase, Inc. (NASDAQ:NTES – Get Free Report) gapped down before the market opened on Tuesday. The stock had previously closed at $118.32, but opened at $113.92. NetEase shares last traded at $114.3750, with a volume of 103,970 shares changing hands.
Analysts Set New Price Targets
A number of analysts have recently commented on NTES shares. The Goldman Sachs Group set a $169.00 price target on NetEase in a research report on Wednesday, July 1st. Nomura lifted their price objective on NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Morgan Stanley reissued an “overweight” rating and issued a $163.00 target price on shares of NetEase in a report on Monday, September 28th. Zacks Research cut NetEase from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Finally, Weiss Ratings downgraded NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.86.
Get Our Latest Analysis on NetEase
NetEase Stock Down 3.3%
The firm’s fifty day simple moving average is $121.02 and its 200-day simple moving average is $122.03. The firm has a market capitalization of $73.24 billion, a PE ratio of 15.74, a PEG ratio of 1.39 and a beta of 0.68.
NetEase Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Thursday, September 3rd were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, September 3rd. This is a decrease from NetEase’s previous quarterly dividend of $0.72. NetEase’s dividend payout ratio (DPR) is presently 26.31%.
Insider Transactions at NetEase
In related news, VP Aileen Mo sold 716 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total value of $86,378.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 54.70% of the company’s stock.
Institutional Trading of NetEase
Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in shares of NetEase by 25.2% during the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after buying an additional 274,500 shares during the last quarter. Bank of America Corp DE increased its holdings in NetEase by 111.4% in the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after buying an additional 698,318 shares in the last quarter. Dimensional Fund Advisors LP raised its position in NetEase by 16.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock worth $120,697,000 after buying an additional 155,784 shares during the last quarter. Temasek Holdings Private Ltd raised its position in NetEase by 50.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock worth $79,266,000 after buying an additional 238,386 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in NetEase by 64.2% in the 1st quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock worth $65,118,000 after buying an additional 227,433 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.
NetEase Company Profile
NetEase, Inc is a China-based internet and technology company founded in 1997 by William Ding. The company develops and operates online games for personal computers and mobile devices, serving players in China and international markets.
NetEase Games is the company’s primary business and offers original titles such as Fantasy Westward Journey, Justice, and Identity V, along with games developed through partnerships and international studios. NetEase also publishes and distributes games in overseas markets through its global operations.
Beyond gaming, NetEase operates NetEase Cloud Music, an online music streaming and social platform, and Youdao, which provides educational technology, learning tools, and related content and services.
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