NetEase (NASDAQ:NTES) General Counsel Paul William Boltz, Jr. Sells 10,000 Shares of Stock

NetEase, Inc. (NASDAQ:NTES) General Counsel Paul William Boltz, Jr. sold 10,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of the sale, the general counsel directly owned 12,223 shares of the company’s stock, valued at $1,568,210.90. The trade was a 45.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NetEase Stock Down 0.8%

NASDAQ:NTES opened at $128.14 on Wednesday. The firm’s fifty day simple moving average is $119.02 and its 200 day simple moving average is $122.96. The stock has a market cap of $81.81 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 1.67 and a beta of 0.72. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, June 5th. NetEase’s dividend payout ratio is presently 38.11%.

Analysts Set New Price Targets

A number of research firms have weighed in on NTES. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a report on Thursday, June 18th. Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Morgan Stanley restated an “overweight” rating and set a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Finally, Wall Street Zen upgraded NetEase from a “hold” rating to a “buy” rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, NetEase presently has an average rating of “Moderate Buy” and an average target price of $157.38.

Institutional Investors Weigh In On NetEase

Hedge funds and other institutional investors have recently bought and sold shares of the business. Main Street Research LLC lifted its holdings in shares of NetEase by 2.1% during the third quarter. Main Street Research LLC now owns 4,085 shares of the technology company’s stock valued at $621,000 after purchasing an additional 85 shares during the last quarter. Allworth Financial LP grew its stake in shares of NetEase by 15.2% in the 3rd quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock worth $109,000 after buying an additional 95 shares during the last quarter. Arkadios Wealth Advisors increased its position in NetEase by 5.9% during the 4th quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock valued at $256,000 after buying an additional 103 shares in the last quarter. Spire Wealth Management increased its position in NetEase by 31.3% during the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock valued at $60,000 after buying an additional 104 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. raised its stake in NetEase by 2.2% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company’s stock valued at $683,000 after buying an additional 106 shares during the last quarter. Hedge funds and other 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.