Bin Mo Sells 716 Shares of NetEase (NASDAQ:NTES) Stock

NetEase, Inc. (NASDAQ:NTES) VP Bin Mo sold 716 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total transaction of $86,378.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NetEase Stock Performance

NetEase stock opened at $119.29 on Friday. The stock has a 50-day simple moving average of $126.98 and a 200 day simple moving average of $120.50. The stock has a market capitalization of $76.38 billion, a P/E ratio of 16.43, a PEG ratio of 1.38 and a beta of 0.72. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 3rd will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.6%. NetEase’s payout ratio is presently 26.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NTES shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $160.00 price target on shares of NetEase in a report on Friday, August 21st. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Nomura increased their price objective on shares of NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Benchmark restated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Seven investment 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $160.57.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NetEase by 68,860.6% during the 3rd 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 worth $1,299,684,000 after buying an additional 8,538,717 shares during the period. Renaissance Technologies LLC raised its position in NetEase by 25.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock worth $152,595,000 after purchasing an additional 274,500 shares during the last quarter. Bank of America Corp DE lifted its holdings in NetEase by 111.4% during the 1st 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 during the period. Dimensional Fund Advisors LP grew its position in shares of NetEase by 16.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock valued at $120,697,000 after buying an additional 155,784 shares during the last quarter. Finally, Man Group plc grew its position in shares of NetEase by 7.3% in the 3rd quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock valued at $160,368,000 after buying an additional 71,966 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

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.