NetEase, Inc. (NTES) Trading Up 8.2%

NetEase, Inc. (NASDAQ:NTES) was up 8.2% during mid-day trading on Monday . The company traded as high as $293.60 and last traded at $293.30. Approximately 3,284,766 shares changed hands during trading, an increase of 168% from the average daily volume of 1,226,150 shares. The stock had previously closed at $271.07.

A number of equities research analysts recently issued reports on NTES shares. BidaskClub cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Deutsche Bank AG reiterated a “buy” rating and set a $343.00 target price (up previously from $300.00) on shares of NetEase in a research report on Tuesday, July 25th. ValuEngine cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and set a $330.00 target price on shares of NetEase in a research report on Monday, May 22nd. Finally, Vetr upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $362.33 target price for the company in a research report on Tuesday, May 30th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $306.40.

The firm has a market cap of $38.66 billion, a P/E ratio of 19.23 and a beta of 0.96. The stock’s 50-day moving average is $282.13 and its 200 day moving average is $288.53.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 25th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.13%. The ex-dividend date was Wednesday, August 23rd. NetEase’s payout ratio is 25.07%.

A number of hedge funds and other institutional investors have recently modified their holdings of NTES. Canada Pension Plan Investment Board raised its stake in NetEase by 13,818.2% during the first quarter. Canada Pension Plan Investment Board now owns 7,655 shares of the technology company’s stock worth $2,174,000 after acquiring an additional 7,600 shares in the last quarter. US Bancorp DE raised its stake in NetEase by 11.4% during the first quarter. US Bancorp DE now owns 3,991 shares of the technology company’s stock worth $1,133,000 after acquiring an additional 410 shares in the last quarter. Bank of New York Mellon Corp raised its stake in NetEase by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 131,677 shares of the technology company’s stock worth $37,396,000 after acquiring an additional 2,104 shares in the last quarter. Suntrust Banks Inc. raised its stake in NetEase by 2.6% during the first quarter. Suntrust Banks Inc. now owns 1,512 shares of the technology company’s stock worth $429,000 after acquiring an additional 39 shares in the last quarter. Finally, Comerica Bank raised its stake in NetEase by 2.6% during the first quarter. Comerica Bank now owns 8,074 shares of the technology company’s stock worth $2,145,000 after acquiring an additional 204 shares in the last quarter. 50.38% of the stock is owned by hedge funds and other institutional investors.

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About NetEase

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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