NetEase, Inc. (NASDAQ:NTES) Receives $160.57 Average Price Target from Analysts

NetEase, Inc. (NASDAQ:NTES) has received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $160.5714.

Several research firms have issued reports on NTES. Morgan Stanley reiterated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Weiss Ratings lowered NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Nomura upped their target price on shares of NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Finally, Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th.

NetEase Stock Up 0.1%

Shares of NTES opened at $119.45 on Friday. NetEase has a twelve month low of $106.06 and a twelve month high of $159.55. The stock has a market cap of $76.48 billion, a PE ratio of 16.45, a P/E/G ratio of 1.38 and a beta of 0.72. The business’s 50-day moving average price is $126.61 and its 200-day moving average price is $120.50.

NetEase Cuts Dividend

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

Insider Transactions at NetEase

In other news, General Counsel William Jr sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the sale, the general counsel owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This trade represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Aileen Mo sold 716 shares of NetEase stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total transaction of $86,378.24. The disclosure for this sale is available in the SEC filing. Company insiders own 54.70% of the company’s stock.

Institutional Trading of NetEase

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in shares of NetEase by 22.6% in the second quarter. NewEdge Advisors LLC now owns 13,544 shares of the technology company’s stock valued at $1,736,000 after acquiring an additional 2,498 shares during the period. Squarepoint Ops LLC lifted its position in shares of NetEase by 23.6% during the second quarter. Squarepoint Ops LLC now owns 31,961 shares of the technology company’s stock valued at $4,095,000 after buying an additional 6,097 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of NetEase by 210.2% during the 2nd quarter. Allworth Financial LP now owns 667 shares of the technology company’s stock valued at $85,000 after purchasing an additional 452 shares during the last quarter. Carrhae Capital LLP boosted its stake in NetEase by 343.2% in the 2nd quarter. Carrhae Capital LLP now owns 306,577 shares of the technology company’s stock worth $39,285,000 after purchasing an additional 237,410 shares in the last quarter. Finally, Waverly Advisors LLC grew its stake in NetEase by 14.3% during the 2nd quarter. Waverly Advisors LLC now owns 2,156 shares of the technology company’s stock valued at $276,000 after purchasing an additional 270 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

About NetEase

NetEase, Inc is a Chinese internet and technology company that develops and operates online games, digital content services and other internet-related products. Founded in 1997 by Ding Lei, the company has grown into a global developer and publisher of games for personal computers and mobile devices.

NetEase Games is the company’s primary business and offers original titles across genres including role-playing, strategy, action and competitive gaming. The company also publishes games through partnerships with international developers and operates game studios in China and overseas.