NetEase (NASDAQ:NTES) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

NetEase, Inc. (NASDAQ:NTES)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $120.99 and traded as high as $122.15. NetEase shares last traded at $121.26, with a volume of 985,366 shares trading hands.

Analyst Ratings Changes

NTES has been the subject of several analyst reports. Morgan Stanley reissued an “overweight” rating and set a $163.00 target price on shares of NetEase in a research note on Monday, September 28th. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a research report on Monday. Nomura boosted their price target 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. Sanford C. Bernstein reiterated an “outperform” rating and set a $160.00 target price on shares of NetEase in a research report on Friday, August 21st. Finally, Zacks Research downgraded NetEase from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.86.

NetEase Trading Up 4.3%

The company has a market cap of $77.64 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.38 and a beta of 0.64. The company’s 50 day moving average price is $119.47 and its 200 day moving average price is $120.99.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, September 3rd. This is a negative change from NetEase’s previous quarterly dividend of $0.72. NetEase’s payout ratio is presently 26.31%.

Insider Buying and Selling at NetEase

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of NetEase by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company’s stock worth $87,000 after acquiring an additional 107 shares during the period. Mission Wealth Management LP increased its holdings in NetEase by 4.4% during the 2nd quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company’s stock valued at $337,000 after acquiring an additional 110 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of NetEase by 4.3% in the third quarter. Commonwealth Equity Services LLC now owns 2,679 shares of the technology company’s stock valued at $325,000 after purchasing an additional 110 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in shares of NetEase by 4.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 2,716 shares of the technology company’s stock worth $348,000 after purchasing an additional 117 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in shares of NetEase by 6.4% during the first quarter. Arkadios Wealth Advisors now owns 1,978 shares of the technology company’s stock worth $221,000 after buying an additional 119 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

About NetEase

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.