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

Shares of NetEase, Inc. (NASDAQ:NTES) have received an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $158.3750.

Several analysts have recently issued reports on the company. Benchmark restated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Finally, Weiss Ratings downgraded shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th.

NetEase Trading Up 2.0%

Shares of NTES opened at $125.12 on Monday. NetEase has a 12-month low of $106.06 and a 12-month high of $159.55. The stock has a market cap of $80.11 billion, a P/E ratio of 16.62, a PEG ratio of 1.59 and a beta of 0.73. The company has a 50-day moving average of $126.62 and a two-hundred day moving average of $120.80.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a dividend of $0.72 per share. The ex-dividend date was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.3%. NetEase’s dividend payout ratio (DPR) is 38.11%.

Insider Buying and Selling

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase 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 sale, the general counsel directly owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 54.70% of the company’s stock.

Institutional Investors Weigh In On NetEase

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after buying an additional 117 shares during the period. Strs Ohio purchased a new position in shares of NetEase during the 1st quarter worth about $63,000. EverSource Wealth Advisors LLC boosted its position in shares of NetEase by 106.9% in 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 holdings in NetEase by 287.4% in the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock valued at $12,324,000 after purchasing an additional 67,934 shares during the period. Finally, Walleye Capital LLC grew its holdings in NetEase by 670.9% in the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock valued at $709,000 after purchasing an additional 4,582 shares during the period. Hedge funds and other 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.