NetEase (NASDAQ:NTES – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.
Several other analysts have also commented on the stock. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. The Goldman Sachs Group set a $169.00 price objective on NetEase in a report on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating and set a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Weiss Ratings raised NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 20th. Finally, Benchmark restated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.38.
View Our Latest Analysis on NetEase
NetEase Price Performance
Insider Buying and Selling
In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of the transaction, the general counsel owned 12,223 shares in the company, valued at $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 54.70% of the stock is owned by corporate insiders.
Institutional Trading of NetEase
Hedge funds have recently modified their holdings of the stock. Arkadios Wealth Advisors boosted its holdings in NetEase by 5.9% in the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock valued at $256,000 after purchasing an additional 103 shares during the period. Spire Wealth Management increased its holdings in 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 purchasing an additional 104 shares during the period. Cookson Peirce & Co. Inc. raised its position in NetEase by 2.2% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company’s stock valued at $683,000 after purchasing an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in NetEase by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock valued at $87,000 after purchasing an additional 107 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in NetEase by 10.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company’s stock valued at $154,000 after purchasing an additional 108 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.
About NetEase
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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