Key Points
- NetEase VP Bin Mo sold 716 shares at an average price of $120.64, generating approximately $86,378 in proceeds. The transaction was disclosed in a filing with the SEC.
- NetEase shares opened at $119.29, with a market capitalization of about $76.38 billion and a P/E ratio of 16.43. The company pays a quarterly dividend of $0.48, representing a 1.6% annualized yield.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $160.57, although some firms recently downgraded the stock to “Hold.”
NetEase, Inc. (NASDAQ:NTES - Get Free Report) VP Bin Mo sold 716 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total value of $86,378.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
NetEase Price Performance
NetEase stock opened at $119.29 on Friday. The stock has a fifty day moving average price of $126.98 and a two-hundred day moving average price of $120.50. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55. The firm has a market capitalization of $76.38 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.35 and a beta of 0.72.
NetEase Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 annualized dividend and a dividend yield of 1.6%. NetEase's dividend payout ratio is presently 26.31%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the stock. The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a report on Wednesday, July 1st. Benchmark reaffirmed a "buy" rating on shares of NetEase in a report on Friday, May 22nd. Wall Street Zen cut shares of NetEase from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Morgan Stanley reaffirmed an "overweight" rating and set a $158.00 price target on shares of NetEase in a report on Tuesday, May 26th. Finally, Zacks Research downgraded NetEase from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, NetEase has a consensus rating of "Moderate Buy" and a consensus price target of $160.57.
View Our Latest Stock Analysis on NetEase
Institutional Investors Weigh In On NetEase
A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NetEase by 68,860.6% in 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 valued at $1,299,684,000 after acquiring an additional 8,538,717 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of NetEase by 25.2% during the first 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 grew its stake in shares of 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 valued at $148,356,000 after purchasing an additional 698,318 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 155,784 shares in the last quarter. Finally, Man Group plc increased its holdings in shares of NetEase by 7.3% in the third quarter. Man Group plc now owns 1,055,122 shares of the technology company's stock valued at $160,368,000 after purchasing an additional 71,966 shares in the last quarter. Institutional investors own 11.07% of the company's stock.
About NetEase
(
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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