NetEase (NASDAQ:NTES) General Counsel Sells $1,283,000.00 in Stock

NetEase, Inc. (NASDAQ:NTES) General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction dated 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 transaction, the general counsel owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

NetEase Trading Up 4.4%

Shares of NetEase stock opened at $129.16 on Tuesday. The company has a market capitalization of $82.46 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.60 and a beta of 0.72. The stock has a fifty day simple moving average of $118.82 and a 200 day simple moving average of $123.02. NetEase, Inc. has a 12-month low of $106.06 and a 12-month high of $159.55.

NetEase Cuts Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On NetEase

Hedge funds have recently modified their holdings of the stock. Range Financial Group LLC purchased a new position in shares of NetEase during the 4th quarter valued at $1,759,000. Hel Ved Capital Management Ltd increased its holdings in NetEase by 172.9% in the 3rd quarter. Hel Ved Capital Management Ltd now owns 35,200 shares of the technology company’s stock worth $5,350,000 after acquiring an additional 22,300 shares during the last quarter. American Century Companies Inc. raised its stake in NetEase by 7.3% in the 3rd quarter. American Century Companies Inc. now owns 803,379 shares of the technology company’s stock valued at $122,106,000 after acquiring an additional 54,929 shares during the period. Ovata Capital Management Ltd raised its stake in NetEase by 228.6% in the 3rd quarter. Ovata Capital Management Ltd now owns 25,300 shares of the technology company’s stock valued at $3,850,000 after acquiring an additional 17,600 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in NetEase by 22.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 67,211 shares of the technology company’s stock valued at $9,250,000 after purchasing an additional 12,173 shares during the last quarter. 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.