NetEase, Inc. (NASDAQ:NTES) Receives Consensus Recommendation of “Moderate Buy” from Analysts

NetEase, Inc. (NASDAQ:NTES) has received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $163.62.

Several equities research analysts have commented on NTES shares. Sanford C. Bernstein restated an “outperform” rating and set a $160.00 price target on shares of NetEase in a research note on Friday, August 21st. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Nomura increased their target price on shares of NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a report on Wednesday, July 1st. Finally, BNP Paribas Exane started coverage on shares of NetEase in a research report on Tuesday, September 22nd. They set an “outperform” rating and a $180.00 price target on the stock.

Insider Buying and Selling at NetEase

In other NetEase news, VP Aileen Mo sold 716 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $120.64, for a total value of $86,378.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 54.70% of the company’s stock.

Institutional Investors Weigh In On NetEase

Institutional investors and hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. raised its holdings in shares of NetEase by 23.5% during the 2nd quarter. QRG Capital Management Inc. now owns 9,468 shares of the technology company’s stock valued at $1,213,000 after buying an additional 1,804 shares during the period. Envestnet Asset Management Inc. boosted its holdings in NetEase by 28.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 220,862 shares of the technology company’s stock worth $28,301,000 after acquiring an additional 48,446 shares during the period. Sequoia Financial Advisors LLC grew its position in NetEase by 38.9% in the second quarter. Sequoia Financial Advisors LLC now owns 9,834 shares of the technology company’s stock valued at $1,260,000 after acquiring an additional 2,752 shares in the last quarter. Tidal Investments LLC acquired a new stake in NetEase in the second quarter valued at approximately $4,395,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of NetEase during the second quarter valued at approximately $102,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Up 1.9%

NTES stock opened at $119.38 on Tuesday. The company has a market cap of $76.43 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.38 and a beta of 0.68. The business has a fifty day simple moving average of $122.64 and a 200-day simple moving average of $120.66. NetEase has a 52 week low of $106.06 and a 52 week high of $156.44.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.6%. This is a drop from NetEase’s previous quarterly dividend of $0.72. NetEase’s payout ratio is 26.31%.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a China-based internet technology company founded in 1997 by William Ding, who serves as the company’s chief executive officer and director. The company develops and operates online services for consumers in China and international markets.

NetEase’s primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.