NetEase (NASDAQ:NTES) Sees Large Volume Increase – Here’s What Happened

Shares of NetEase, Inc. (NASDAQ:NTES) saw an uptick in trading volume on Wednesday . 1,223,003 shares were traded during trading, an increase of 42% from the previous session’s volume of 863,268 shares.The stock last traded at $124.0020 and had previously closed at $121.81.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NTES. Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Morgan Stanley restated an “overweight” rating and set a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.38.

NetEase Stock Up 0.4%

The company’s fifty day moving average is $117.90 and its 200-day moving average is $123.96. The company has a market cap of $77.46 billion, a PE ratio of 16.11, a PEG ratio of 1.57 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 paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, June 5th. NetEase’s dividend payout ratio (DPR) is 38.11%.

Institutional Trading of NetEase

Large investors have recently modified their holdings of the company. Parallel Advisors LLC increased its position in NetEase by 55.7% during the first quarter. Parallel Advisors LLC now owns 3,604 shares of the technology company’s stock valued at $403,000 after acquiring an additional 1,290 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in NetEase by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,046 shares of the technology company’s stock valued at $1,237,000 after acquiring an additional 879 shares during the period. Summitry LLC boosted its position in NetEase by 4.7% in the first quarter. Summitry LLC now owns 2,901 shares of the technology company’s stock worth $325,000 after purchasing an additional 129 shares during the last quarter. Bank of America Corp DE boosted its position in NetEase by 111.4% in the first quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after purchasing an additional 698,318 shares during the last quarter. Finally, Strategic Investment Advisors MI bought a new stake in shares of NetEase during the 1st quarter valued at about $116,000. Institutional investors own 11.07% of the company’s stock.

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.