NetEase (NASDAQ:NTES) Stock Rating Lowered by Zacks Research

NetEase (NASDAQ:NTES) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

NTES has been the topic of several other research reports. Benchmark restated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. The Goldman Sachs Group set a $169.00 target price on NetEase in a report on Wednesday, July 1st. Weiss Ratings raised NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Finally, Wall Street Zen upgraded NetEase from a “hold” rating to a “buy” rating in a research report on Saturday. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.38.

NetEase Trading Up 2.9%

Shares of NASDAQ NTES opened at $127.35 on Monday. The firm has a 50-day moving average of $124.43 and a two-hundred day moving average of $121.47. NetEase has a twelve month low of $106.06 and a twelve month high of $159.55. The company has a market capitalization of $81.54 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.60 and a beta of 0.72.

Insider Transactions at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $128.30, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. 54.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On NetEase

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NetEase by 68,860.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock valued at $1,299,684,000 after buying an additional 8,538,717 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of NetEase by 25.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after purchasing an additional 274,500 shares during the last quarter. Bank of America Corp DE raised its position in shares of NetEase by 111.4% during the 1st quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock valued at $148,356,000 after acquiring an additional 698,318 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NetEase by 16.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock valued at $120,697,000 after buying an additional 155,784 shares during the period. Finally, Man Group plc raised its position in shares of NetEase by 7.3% in the 3rd quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock valued at $160,368,000 after acquiring an additional 71,966 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

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.