Traders Buy Shares of NetEase, Inc. (NTES) on Weakness
Traders purchased shares of NetEase, Inc. (NASDAQ:NTES) on weakness during trading hours on Monday. $110.32 million flowed into the stock on the tick-up and $68.80 million flowed out of the stock on the tick-down, for a money net flow of $41.52 million into the stock. Of all companies tracked, NetEase had the 10th highest net in-flow for the day. NetEase traded down ($1.23) for the day and closed at $271.81
NTES has been the subject of a number of recent research reports. BidaskClub lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Deutsche Bank AG reiterated a “buy” rating and set a $343.00 price objective (up from $300.00) on shares of NetEase in a research note on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $330.00 price objective on shares of NetEase in a research note on Monday, May 22nd. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $362.33 price objective for the company in a research note on Tuesday, May 30th. Finally, Standpoint Research lowered NetEase from a “buy” rating to a “reduce” rating and increased their price objective for the stock from $345.00 to $360.00 in a research note on Wednesday, June 7th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NetEase currently has an average rating of “Hold” and an average price target of $306.40.
The company has a 50 day moving average of $287.18 and a 200 day moving average of $289.43. The firm has a market cap of $35.82 billion, a P/E ratio of 18.02 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 25th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.22%. NetEase’s dividend payout ratio (DPR) is currently 25.07%.
Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of NetEase by 11.6% during the 1st quarter. Geode Capital Management LLC now owns 152,694 shares of the technology company’s stock worth $43,243,000 after buying an additional 15,931 shares in the last quarter. Renaissance Group LLC raised its holdings in shares of NetEase by 3.3% during the 2nd quarter. Renaissance Group LLC now owns 51,703 shares of the technology company’s stock worth $15,543,000 after buying an additional 1,656 shares in the last quarter. Morgan Stanley raised its holdings in shares of NetEase by 14.4% during the 1st quarter. Morgan Stanley now owns 737,924 shares of the technology company’s stock worth $209,570,000 after buying an additional 93,057 shares in the last quarter. Invictus RG raised its holdings in shares of NetEase by 64.2% during the 1st quarter. Invictus RG now owns 980 shares of the technology company’s stock worth $278,000 after buying an additional 383 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of NetEase by 13,818.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,655 shares of the technology company’s stock worth $2,174,000 after buying an additional 7,600 shares in the last quarter. 50.38% of the stock is owned by institutional investors.
WARNING: This piece was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/11/traders-buy-shares-of-netease-inc-ntes-on-weakness.html.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
Receive News & Stock Ratings for NetEase Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase Inc. and related stocks with our FREE daily email newsletter.