NetEase (NASDAQ:NTES) Downgraded to Hold Rating by Wall Street Zen

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

NTES has been the topic of several other research reports. Morgan Stanley reiterated an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research report on Tuesday, May 26th. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a report on Thursday, June 18th. Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Finally, Benchmark reissued a “buy” rating on shares of NetEase in a report on Friday, May 22nd. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.38.

Read Our Latest Report on NTES

NetEase Trading Up 0.8%

NetEase stock opened at $132.03 on Monday. The company has a market capitalization of $84.29 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.65 and a beta of 0.72. NetEase has a 12 month low of $106.06 and a 12 month high of $159.55. The stock’s 50 day moving average is $119.78 and its 200-day moving average is $122.75.

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 paid a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 annualized dividend and a yield of 2.2%. NetEase’s dividend payout ratio (DPR) is 38.11%.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NetEase

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 valued at $1,299,684,000 after buying an additional 8,538,717 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of NetEase by 111.4% during the first 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. Bank of Montreal Can increased its holdings in shares of NetEase by 1,636.4% during the third quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock worth $100,702,000 after buying an additional 624,399 shares in the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of NetEase in the 4th quarter valued at $44,214,000. Finally, Renaissance Technologies LLC lifted its stake in shares of NetEase by 25.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after acquiring an additional 274,500 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

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.

Further Reading

Analyst Recommendations for NetEase (NASDAQ:NTES)

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