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

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 $117.05, with a market capitalization of roughly $74.94 billion and a 52-week range of $106.06 to $159.55.
• The company declared a quarterly dividend of $0.48 per share, equivalent to $1.92 annually and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $160.57.

NetEase, Inc. (NASDAQ:NTES - Get Free Report) VP Bin Mo sold 716 shares of the company'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

NTES stock opened at $117.05 on Friday. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55. The stock has a market capitalization of $74.94 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.38 and a beta of 0.72. The business's fifty day moving average price is $127.07 and its two-hundred day moving average price is $120.51.

NetEase Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.6%. NetEase's payout ratio is currently 39.53%.

Wall Street Analyst Weigh In

NTES has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $160.00 target price on shares of NetEase in a report on Friday, August 21st. Benchmark reissued a "buy" rating on shares of NetEase in a research report on Friday, May 22nd. Zacks Research lowered NetEase from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Morgan Stanley reaffirmed an "overweight" rating and issued a $158.00 price objective on shares of NetEase in a report on Tuesday, May 26th. Finally, Weiss Ratings downgraded 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.57.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after buying an additional 117 shares in the last quarter. Strs Ohio bought a new position in shares of NetEase in the first quarter worth about $63,000. EverSource Wealth Advisors LLC lifted its holdings in shares of NetEase by 106.9% in the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company's stock worth $73,000 after acquiring an additional 280 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of NetEase by 287.4% in the 2nd quarter. First Trust Advisors LP now owns 91,571 shares of the technology company's stock valued at $12,324,000 after purchasing an additional 67,934 shares in the last quarter. Finally, Walleye Capital LLC boosted its stake in shares of NetEase by 670.9% in the 2nd quarter. Walleye Capital LLC now owns 5,265 shares of the technology company's stock valued at $709,000 after purchasing an additional 4,582 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

About NetEase

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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