NetEase, Inc. (NTES) Given New $340.00 Price Target at Benchmark Co.

NetEase, Inc. (NASDAQ:NTES) had its price target decreased by Benchmark Co. from $360.00 to $340.00 in a research report sent to investors on Thursday. Benchmark Co. currently has a buy rating on the technology company’s stock.

Several other research firms also recently commented on NTES. Vetr downgraded shares of NetEase from a strong-buy rating to a buy rating and set a $327.04 price objective for the company. in a research note on Monday, September 18th. Deutsche Bank AG set a $325.00 price objective on shares of NetEase and gave the stock a buy rating in a research note on Friday, October 6th. Barclays PLC initiated coverage on shares of NetEase in a research note on Wednesday, October 4th. They set an equal weight rating and a $260.00 price objective for the company. Zacks Investment Research downgraded shares of NetEase from a buy rating to a hold rating in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC downgraded shares of NetEase from a buy rating to a hold rating and lowered their price objective for the stock from $330.00 to $290.00 in a research note on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $320.38.

NetEase (NASDAQ NTES) traded up $41.26 during trading hours on Thursday, hitting $367.50. 6,047,796 shares of the stock traded hands, compared to its average volume of 1,281,239. NetEase has a 1-year low of $211.11 and a 1-year high of $375.10. The firm has a market capitalization of $43,100.00, a P/E ratio of 19.55, a P/E/G ratio of 1.26 and a beta of 0.93.

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NetEase declared that its board has authorized a share repurchase plan on Wednesday, November 15th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, December 1st will be issued a $0.717 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.87 dividend on an annualized basis and a yield of 0.78%. NetEase’s payout ratio is 24.31%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTES. Central Asset Investments & Management Holdings HK Ltd purchased a new position in NetEase in the third quarter valued at $2,092,000. Artisan Partners Limited Partnership purchased a new stake in shares of NetEase during the second quarter worth about $287,603,000. FMR LLC increased its stake in shares of NetEase by 63.3% during the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock worth $652,551,000 after purchasing an additional 841,692 shares in the last quarter. Capital International Investors purchased a new stake in shares of NetEase during the third quarter worth about $180,472,000. Finally, Renaissance Technologies LLC increased its stake in shares of NetEase by 20.1% during the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock worth $819,517,000 after purchasing an additional 456,300 shares in the last quarter. 50.30% of the stock is 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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