Bin Mo Sells 716 Shares of NetEase (NASDAQ:NTES) Stock

NetEase, Inc. (NASDAQ:NTES) VP Bin Mo sold 716 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total transaction of $86,378.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $117.05 on Friday. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55. The company has a market capitalization of $74.94 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.38 and a beta of 0.72. The company has a fifty day moving average of $127.07 and a 200-day moving average of $120.51.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 3rd. NetEase’s dividend payout ratio is presently 39.53%.

Hedge Funds Weigh In On NetEase

Several institutional investors have recently made changes to their positions in NTES. Lazard Asset Management LLC increased its position in NetEase by 64.2% in the first quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock worth $65,118,000 after buying an additional 227,433 shares during the last quarter. Bank of America Corp DE boosted its position in NetEase by 111.4% during the first quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after purchasing an additional 698,318 shares during the period. Temasek Holdings Private Ltd boosted its holdings in shares of NetEase by 50.7% in the first quarter. Temasek Holdings Private Ltd now owns 708,114 shares of the technology company’s stock worth $79,266,000 after acquiring an additional 238,386 shares during the period. NewEdge Wealth LLC increased its position in shares of NetEase by 114.3% during the first quarter. NewEdge Wealth LLC now owns 48,068 shares of the technology company’s stock valued at $5,381,000 after buying an additional 25,634 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in NetEase by 2.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 434,115 shares of the technology company’s stock worth $55,627,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NTES. Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a report on Wednesday, July 1st. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Nomura upped their price target on shares of NetEase from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Finally, Weiss Ratings cut shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.57.

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.