Leonteq Securities AG Purchases 4,365 Shares of NetEase, Inc. $NTES

Leonteq Securities AG grew its position in NetEase, Inc. (NASDAQ:NTES) by 91.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 9,155 shares of the technology company’s stock after purchasing an additional 4,365 shares during the period. Leonteq Securities AG’s holdings in NetEase were worth $1,025,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Keybank National Association OH boosted its holdings in NetEase by 3.1% in the first quarter. Keybank National Association OH now owns 7,565 shares of the technology company’s stock valued at $847,000 after acquiring an additional 227 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in NetEase by 147.5% during the 1st quarter. Aaron Wealth Advisors LLC now owns 5,834 shares of the technology company’s stock worth $653,000 after purchasing an additional 3,477 shares during the last quarter. Arta Finance Wealth Management LLC raised its holdings in NetEase by 13.5% during the 1st quarter. Arta Finance Wealth Management LLC now owns 2,399 shares of the technology company’s stock worth $269,000 after purchasing an additional 286 shares during the last quarter. Ritholtz Wealth Management lifted its position in NetEase by 24.9% during the 1st quarter. Ritholtz Wealth Management now owns 11,836 shares of the technology company’s stock valued at $1,325,000 after purchasing an additional 2,363 shares during the period. Finally, AdvisorNet Financial Inc lifted its position in NetEase by 22.8% during the 1st quarter. AdvisorNet Financial Inc now owns 1,941 shares of the technology company’s stock valued at $217,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’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 value of $1,283,000.00. Following the completion of the sale, the general counsel owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 54.70% of the company’s stock.

Analyst Upgrades and Downgrades

NTES has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Morgan Stanley reissued 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 shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research note on Thursday, June 18th. Finally, The Goldman Sachs Group set a $169.00 target price on shares of NetEase in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.38.

NetEase Stock Performance

NetEase stock opened at $127.24 on Friday. The firm has a market capitalization of $81.23 billion, a P/E ratio of 16.90, a PEG ratio of 1.65 and a beta of 0.72. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55. The business has a 50-day moving average of $119.78 and a 200-day moving average of $122.86.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.3%. NetEase’s payout ratio is currently 38.11%.

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.