NetEase (NASDAQ:NTES) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded NetEase from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy,” with seven Buy ratings and three Hold ratings.
• Analysts’ consensus price target is $158.38, compared with NetEase’s reported opening price of $133.27; the stock has traded between $106.06 and $159.55 over the past year.
• NetEase’s general counsel sold 10,000 shares for approximately $1.28 million, reducing his position by 45%; institutional investors own 11.07% of the company.

NetEase (NASDAQ:NTES - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday.

A number of other equities analysts also recently weighed in on the company. Benchmark restated a "buy" rating on shares of NetEase in a research note on Friday, May 22nd. Weiss Ratings raised NetEase from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, July 20th. The Goldman Sachs Group set a $169.00 target price on NetEase in a research report on Wednesday, July 1st. Morgan Stanley reissued an "overweight" rating and issued a $158.00 price target on shares of NetEase in a report on Tuesday, May 26th. Finally, Zacks Research downgraded shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $158.38.

NetEase Trading Up 1.0%

Shares of NASDAQ:NTES opened at $133.27 on Friday. NetEase has a 1-year low of $106.06 and a 1-year high of $159.55. The stock has a market cap of $85.33 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.72. The stock's fifty day simple moving average is $125.37 and its two-hundred day simple moving average is $121.42.

Insider Buying and Selling

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction that occurred on Monday, June 29th. The shares were 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 in the company, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 54.70% of the company's stock.

Hedge Funds Weigh In On NetEase

A number of large investors have recently made changes to their positions in NTES. Brookmont Capital Management raised its holdings in shares of NetEase by 137.1% in the 2nd quarter. Brookmont Capital Management now owns 25,514 shares of the technology company's stock valued at $3,269,000 after acquiring an additional 14,754 shares in the last quarter. Signaturefd LLC raised its stake in NetEase by 3.4% in the second quarter. Signaturefd LLC now owns 4,291 shares of the technology company's stock valued at $550,000 after purchasing an additional 140 shares in the last quarter. ABN Amro Investment Solutions lifted its position in NetEase by 12.4% during the second quarter. ABN Amro Investment Solutions now owns 30,878 shares of the technology company's stock valued at $3,957,000 after purchasing an additional 3,400 shares during the last quarter. SOA Wealth Advisors LLC. bought a new stake in NetEase during the second quarter valued at approximately $614,000. Finally, Mission Wealth Management LP grew its stake in NetEase by 4.4% in the 2nd quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company's stock worth $337,000 after buying an additional 110 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.