NetEase (NASDAQ:NTES) Rating Lowered to “Strong Sell” at Zacks Research

NetEase (NASDAQ:NTES) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday, Zacks reports.

Several other research analysts also recently commented on NTES. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $160.00 target price on shares of NetEase in a research note on Friday, August 21st. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a report on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating and issued a $163.00 price target on shares of NetEase in a report on Monday, September 28th. Weiss Ratings lowered shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Finally, Nomura boosted 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. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NetEase has a consensus rating of “Moderate Buy” and a consensus target price of $159.86.

NetEase Stock Performance

Shares of NTES opened at $122.98 on Tuesday. The firm has a market cap of $78.74 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.47 and a beta of 0.68. The firm has a 50 day moving average price of $121.11 and a 200-day moving average price of $121.59. NetEase has a fifty-two week low of $106.06 and a fifty-two week high of $149.20.

Insider Buying and Selling at NetEase

In other news, VP Aileen Mo sold 716 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total transaction of $86,378.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 54.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in shares of NetEase in the first quarter worth $25,000. Allworth Financial LP lifted its holdings in NetEase by 210.2% in the second quarter. Allworth Financial LP now owns 667 shares of the technology company’s stock valued at $85,000 after acquiring an additional 452 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in NetEase by 16.0% in the first quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock valued at $87,000 after acquiring an additional 107 shares during the period. Integrated Wealth Concepts LLC purchased a new position in NetEase in the second quarter worth about $102,000. Finally, Strategic Investment Advisors MI bought a new stake in shares of NetEase during the 1st quarter valued at about $116,000. 11.07% of the stock is owned by institutional investors.

NetEase Company Profile

NetEase, Inc is a China-based internet and technology company founded in 1997 by William Ding. The company develops and operates online games for personal computers and mobile devices, serving players in China and international markets.

NetEase Games is the company’s primary business and offers original titles such as Fantasy Westward Journey, Justice, and Identity V, along with games developed through partnerships and international studios. NetEase also publishes and distributes games in overseas markets through its global operations.

Beyond gaming, NetEase operates NetEase Cloud Music, an online music streaming and social platform, and Youdao, which provides educational technology, learning tools, and related content and services.