NetEase, Inc. $NTES Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its stake in NetEase, Inc. (NASDAQ:NTES) by 65.3% during the 1st quarter, HoldingsChannel reports. The firm owned 5,395 shares of the technology company’s stock after selling 10,135 shares during the period. Janney Montgomery Scott LLC’s holdings in NetEase were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTES. Brighton Jones LLC increased its position in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after buying an additional 117 shares during the period. Strs Ohio acquired a new position in shares of NetEase during the first quarter valued at $63,000. EverSource Wealth Advisors LLC grew its position in shares of NetEase by 106.9% during the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after acquiring an additional 280 shares during the last quarter. First Trust Advisors LP grew its position in shares of NetEase by 287.4% during the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after acquiring an additional 67,934 shares during the last quarter. Finally, Walleye Capital LLC increased its holdings in shares of NetEase by 670.9% in the 2nd quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after acquiring an additional 4,582 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Insider Buying and Selling at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the stock in a transaction that occurred 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 directly owned 12,223 shares in the company, valued at $1,568,210.90. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 54.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wall Street Zen downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a research report on Thursday, June 18th. Zacks Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. The Goldman Sachs Group set a $169.00 price target on NetEase in a report on Wednesday, July 1st. Finally, Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. One equities research 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 company. Based on data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average price target of $158.38.

NetEase Stock Down 2.3%

NTES stock opened at $128.39 on Wednesday. The company has a 50-day simple moving average of $122.33 and a 200 day simple moving average of $122.48. The company has a market capitalization of $81.97 billion, a P/E ratio of 17.05, a PEG ratio of 1.70 and a beta of 0.72. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, June 5th. NetEase’s dividend payout ratio is currently 38.11%.

NetEase Company Profile

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.