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

Janney Montgomery Scott LLC trimmed its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 65.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,395 shares of the technology company’s stock after selling 10,135 shares during the quarter. Janney Montgomery Scott LLC’s holdings in NetEase were worth $604,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Allworth Financial LP grew its stake in NetEase by 15.2% during the 3rd quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock valued at $109,000 after purchasing an additional 95 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of NetEase by 5.9% in the 4th quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock valued at $256,000 after purchasing an additional 103 shares in the last quarter. Spire Wealth Management boosted its stake in shares of NetEase by 31.3% during the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock valued at $60,000 after buying an additional 104 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its stake in shares of NetEase by 2.2% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company’s stock valued at $683,000 after buying an additional 106 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of NetEase by 10.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company’s stock worth $154,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NTES. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research note on Thursday, June 18th. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. The Goldman Sachs Group set a $169.00 target price on shares of NetEase in a research report on Wednesday, July 1st. Finally, Benchmark restated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.38.

Insider Activity

In other news, General Counsel Paul William Boltz, 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 value of $1,283,000.00. Following the transaction, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 54.70% of the company’s stock.

NetEase Price Performance

Shares of NTES opened at $128.39 on Wednesday. The business’s fifty day moving average price is $122.33 and its 200 day moving average price is $122.48. NetEase, Inc. has a 12-month low of $106.06 and a 12-month high of $159.55. The stock has a market capitalization of $81.97 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given 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 was Friday, June 5th. NetEase’s dividend payout ratio (DPR) is presently 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.