Key Points
- NetEase General Counsel Paul William Boltz, Jr. sold 10,000 shares on June 29 at an average price of $128.30, totaling about $1.283 million. After the sale, he directly owned 12,223 shares, a 45% reduction in his position.
- NetEase stock recently opened at $128.14, putting the company near the middle of its 52-week range of $106.06 to $159.55. The company’s market cap is about $81.81 billion, and it trades at a P/E ratio of 17.02.
- Analysts remain broadly positive on NTES, with a consensus rating of “Moderate Buy” and an average target price of $157.38. Recent ratings included upgrades from Wall Street Zen and Zacks Research, while Morgan Stanley maintained an overweight view.
NetEase, Inc. (NASDAQ:NTES - Get Free Report) General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
NetEase Stock Performance
Shares of NTES stock opened at $128.14 on Wednesday. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The company's 50-day moving average is $119.02 and its 200 day moving average is $122.96. The company has a market capitalization of $81.81 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.67 and a beta of 0.72.
NetEase Cuts Dividend
The company 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 dividend payout ratio is presently 38.11%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of NetEase in a report on Thursday, June 18th. Morgan Stanley reiterated an "overweight" rating and set a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Benchmark reissued a "buy" rating on shares of NetEase in a report on Friday, May 22nd. Wall Street Zen upgraded NetEase from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Zacks Research raised NetEase from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NetEase has a consensus rating of "Moderate Buy" and a consensus target price of $157.38.
Get Our Latest Research Report on NetEase
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in NetEase in the 1st quarter worth approximately $25,000. Atlas Capital Advisors Inc. purchased a new stake in NetEase during the fourth quarter valued at $47,000. Smartleaf Asset Management LLC increased its position in NetEase by 3,381.8% during the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company's stock valued at $51,000 after acquiring an additional 372 shares during the last quarter. Harbour Investments Inc. lifted its holdings in NetEase by 7,480.0% in the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company's stock valued at $52,000 after acquiring an additional 374 shares during the period. Finally, MidFirst Bank bought a new position in NetEase in the fourth quarter valued at about $57,000. Institutional investors own 11.07% of the company's stock.
NetEase Company Profile
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Get Free Report)
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.
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