NetEase (NASDAQ:NTES) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded NetEase from a “hold” to a “buy” rating, adding to a generally positive analyst outlook on the stock.
• Other firms remain constructive on NetEase, with Morgan Stanley, Goldman Sachs, Benchmark, and Zacks issuing favorable views; MarketBeat shows a consensus “Moderate Buy” rating and a $158.38 average target price.
• NetEase shares were down 0.5% to $119.55, while an insider filing showed General Counsel Paul William Boltz, Jr. sold 10,000 shares, cutting his stake by 45%.

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

Other research analysts have also issued reports about the company. Morgan Stanley reaffirmed an "overweight" rating and set a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. The Goldman Sachs Group set a $169.00 target price on NetEase in a research report on Wednesday, July 1st. Weiss Ratings raised shares of NetEase from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Benchmark reiterated a "buy" rating on shares of NetEase in a research note on Friday, May 22nd. Finally, Zacks Research upgraded NetEase from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.38.

NetEase Stock Down 0.5%

Shares of NASDAQ NTES opened at $119.55 on Friday. NetEase has a 52-week low of $106.06 and a 52-week high of $159.55. The firm's 50-day moving average price is $123.97 and its two-hundred day moving average price is $121.89. The stock has a market capitalization of $76.54 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.56 and a beta of 0.72.

Insider Activity at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the transaction, the general counsel owned 12,223 shares of the company's stock, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 54.70% of the company's stock.

Institutional Investors Weigh In On NetEase

A number of institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in shares of NetEase during the first quarter valued at $25,000. Atlas Capital Advisors Inc. acquired a new stake in NetEase during the 4th quarter worth approximately $47,000. Smartleaf Asset Management LLC boosted its holdings in shares of NetEase by 3,381.8% in the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company's stock valued at $51,000 after buying an additional 372 shares during the period. Harbour Investments Inc. increased its position in shares of NetEase by 7,480.0% during the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company's stock worth $52,000 after acquiring an additional 374 shares in the last quarter. Finally, MidFirst Bank acquired a new stake in shares of NetEase during the fourth quarter worth $57,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Company Profile

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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