Brokerages Set NetEase, Inc. (NASDAQ:NTES) PT at $158.38

Shares of NetEase, Inc. (NASDAQ:NTES – Get Free Report) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $158.3750.

NTES has been the subject of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research report on Thursday, June 18th. The Goldman Sachs Group set a $169.00 price target on NetEase in a report on Wednesday, July 1st. Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd.

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Insider Buying and Selling

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 54.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its holdings in NetEase by 15.2% in the 3rd quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock valued at $109,000 after purchasing an additional 95 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of NetEase by 5.9% in the 4th quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock valued at $256,000 after buying an additional 103 shares during the period. Spire Wealth Management increased its holdings in shares of NetEase by 31.3% during the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after buying an additional 104 shares during the last quarter. Cookson Peirce & Co. Inc. increased its holdings in shares of NetEase by 2.2% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company’s stock worth $683,000 after buying an additional 106 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of NetEase by 16.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock valued at $87,000 after buying an additional 107 shares during the period. Institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 2.2%

Shares of NASDAQ NTES opened at $134.20 on Thursday. NetEase has a 12-month low of $106.06 and a 12-month high of $159.55. The firm’s 50-day moving average price is $123.49 and its 200-day moving average price is $122.27. The stock has a market capitalization of $85.68 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 1.70 and a beta of 0.72.

NetEase Cuts Dividend

The company 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. This represents a $2.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, June 5th. NetEase’s dividend payout ratio (DPR) is 38.11%.

NetEase Company Profile

(Get Free Report)

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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