NetEase (NASDAQ:NTES) General Counsel Sells $1,283,000.00 in Stock

NetEase, Inc. (NASDAQ:NTES) General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the general counsel directly owned 12,223 shares in the company, valued at $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

NetEase Stock Performance

NetEase stock opened at $127.24 on Friday. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55. The firm has a market cap of $81.23 billion, a PE ratio of 16.90, a P/E/G ratio of 1.68 and a beta of 0.72. The firm’s 50 day moving average price is $119.50 and its two-hundred day moving average price is $122.83.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.3%. NetEase’s dividend payout ratio is 38.11%.

Hedge Funds Weigh In On NetEase

Institutional investors have recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the last quarter. Strs Ohio acquired a new stake in NetEase in the 1st quarter valued at approximately $63,000. EverSource Wealth Advisors LLC increased its position in NetEase by 106.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after buying an additional 280 shares during the period. First Trust Advisors LP lifted its holdings in shares of NetEase by 287.4% during the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after buying an additional 67,934 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of NetEase by 670.9% during the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after buying an additional 4,582 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research report on Thursday, June 18th. The Goldman Sachs Group set a $169.00 target price on NetEase in a research report on Wednesday. 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. Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Finally, Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and a consensus price target of $158.38.

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.