NetEase (NASDAQ:NTES) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of NetEase (NASDAQ:NTES) from a buy rating to a hold rating in a research report sent to investors on Sunday.

Other equities analysts have also recently issued reports about the company. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Weiss Ratings upgraded NetEase from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Morgan Stanley restated an “overweight” rating and set a $158.00 price objective on shares of NetEase in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research note on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and an average price target of $158.38.

NetEase Stock Performance

NASDAQ NTES opened at $133.27 on Friday. NetEase has a 1 year low of $106.06 and a 1 year high of $159.55. The business’s fifty day moving average is $125.37 and its two-hundred day moving average is $121.24. The stock has a market capitalization of $85.33 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.73 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 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 dividend yield of 2.2%. NetEase’s payout ratio is currently 38.11%.

Insiders Place Their Bets

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the general counsel directly owned 12,223 shares of the company’s stock, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 54.70% of the company’s stock.

Hedge Funds Weigh In On NetEase

Several institutional investors and hedge funds have recently bought and sold shares of NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NetEase by 68,860.6% during the 3rd 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 worth $1,299,684,000 after buying an additional 8,538,717 shares during the period. Bank of America Corp DE boosted its stake in NetEase by 111.4% in 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 buying an additional 698,318 shares in the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in NetEase in the fourth quarter valued at $44,214,000. Renaissance Technologies LLC grew its position in NetEase by 25.2% in the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock valued at $152,595,000 after acquiring an additional 274,500 shares during the period. Finally, Man Group plc raised its stake in NetEase by 33.3% during the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after acquiring an additional 245,872 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.