NetEase, Inc. (NASDAQ:NTES – Get Free Report) General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the general counsel owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This trade represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NetEase Price Performance
Shares of NTES stock opened at $129.16 on Tuesday. The stock has a market capitalization of $82.46 billion, a PE ratio of 17.15, a PEG ratio of 1.60 and a beta of 0.72. The business’s 50 day simple moving average is $118.82 and its 200 day simple moving average is $123.02. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55.
NetEase Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a $0.72 dividend. The ex-dividend date was Friday, June 5th. This represents a $2.88 annualized dividend and a yield of 2.2%. NetEase’s payout ratio is presently 38.11%.
Hedge Funds Weigh In On NetEase
Analyst Ratings Changes
A number of brokerages have recently issued reports on NTES. Zacks Research raised NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Wall Street Zen raised NetEase from a “hold” rating to a “buy” rating in a research note on Sunday. Morgan Stanley reiterated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average price target of $157.38.
View Our Latest Research Report on NetEase
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.
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