NetEase, Inc. (NASDAQ:NTES) gapped up prior to trading on Tuesday . The stock had previously closed at $309.10, but opened at $293.30. NetEase shares last traded at $288.84, with a volume of 1,149,307 shares changing hands.
NTES has been the subject of a number of recent analyst reports. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $362.33 price objective for the company in a report on Tuesday, May 30th. Standpoint Research downgraded NetEase from a “buy” rating to a “reduce” rating and upped their price objective for the company from $345.00 to $360.00 in a report on Wednesday, June 7th. BidaskClub upgraded NetEase from a “buy” rating to a “strong-buy” rating in a report on Friday, June 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of NetEase in a report on Friday, June 16th. Finally, Zacks Investment Research upgraded NetEase from a “hold” rating to a “strong-buy” rating and set a $346.00 price objective for the company in a report on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. NetEase currently has an average rating of “Hold” and an average price target of $303.78.
NetEase also saw some unusual options trading on Monday. Investors purchased 9,838 call options on the company. This is an increase of 436% compared to the typical daily volume of 1,837 call options.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 25th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Wednesday, August 23rd. NetEase’s dividend payout ratio is 25.07%.
Large investors have recently made changes to their positions in the company. Renaissance Group LLC lifted its stake in shares of NetEase by 3.3% in the 2nd quarter. Renaissance Group LLC now owns 51,703 shares of the technology company’s stock valued at $15,543,000 after purchasing an additional 1,656 shares during the period. Aberdeen Asset Management PLC UK lifted its stake in shares of NetEase by 64.7% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 72,450 shares of the technology company’s stock valued at $21,781,000 after purchasing an additional 28,450 shares during the period. Geode Capital Management LLC lifted its stake in shares of NetEase by 11.6% in the 1st quarter. Geode Capital Management LLC now owns 152,694 shares of the technology company’s stock valued at $43,243,000 after purchasing an additional 15,931 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in shares of NetEase by 77.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 53,952 shares of the technology company’s stock valued at $16,220,000 after purchasing an additional 23,587 shares during the period. Finally, Morgan Stanley increased its position in NetEase by 14.4% in the 1st quarter. Morgan Stanley now owns 737,924 shares of the technology company’s stock valued at $209,570,000 after buying an additional 93,057 shares in the last quarter. 50.38% of the stock is currently owned by institutional investors.
NetEase Company Profile
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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