# NetEase, Inc. (NTES)

> Source: Nexqual · https://nexqual.com/NTES · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, NetEase, Inc. (NTES), nexqual.com/NTES" · informational, not investment advice.

**Price:** USD 118.67 (-3.50% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 122.98 · day 116.43–118.81 · 52w 106.06–149.11 · market cap $76.0B · NMS

## Key facts
- 3 of 80 tracked superinvestors hold NTES (13F, Q2 2026): 1 new, 2 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $1.4M; 2 not under a Rule 10b5-1 plan ($1.4M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.82 on a 1–5 scale) (33 analysts), mean target USD 163.13 (range 133.11–201.29).
- Total return with dividends: 1Y -17.4% vs S&P 500 +14.9%; 5Y +29.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-19, EPS estimate USD 16.13, revenue estimate $30.3B.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold NTES. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Sarah Ketterer | Causeway Capital Management | 0.79% | $73.3M | New position |
| Christopher Davis | Davis Advisors | 0.34% | $78.5M | Added +45.0% |
| Dodge & Cox Funds | Dodge & Cox | 0.15% | $277M | Added +0.3% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-02 | Mo Bin | Vice President, Finance | 716 | $86K | 100% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-29 | Boltz Paul William Jr | General Counsel | 10,000 | $1.3M | 45% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.82 on a 1–5 scale), 33 analysts; mean target USD 163.13 (low 133.11, high 201.29).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-28 | Morgan Stanley | Reiterated | Overweight | $163 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -17.4% | +29.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -17.4% | +5.3% |
| Volatility (annualized) | 33.0% | 37.8% |
| Max drawdown | -25.2% (Jan 2026→Mar 2026) | -51.4% (Nov 2021→Oct 2022) |

## Peers (Electronic Gaming & Multimedia)
TTWO (Take-Two Interactive Software, ) USD 207.81 +0.80% · RBLX (Roblox Corporation) USD 53.96 +2.68% · PLTK (Playtika Holding Corp.) USD 2.06 +0.00% · DDI (DoubleDown Interactive Co., Ltd) USD 13.34 -2.91% · GRVY (GRAVITY Co., Ltd.) USD 66.19 -0.05% · SOHU (Sohu.com Limited) USD 12.73 +1.68%

## More
Full page: https://nexqual.com/NTES · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in NTES's own 20-F filed 2026-04-15 (https://www.sec.gov/Archives/edgar/data/1110646/000110465926043468/ntes-20251231x20f.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Youdao, Inc. (DAO) | "We incur revenue sharing costs, including fees shared with third-party platform providers, game developers, owners of intellectual property licensed to us and other third parties related to mobile games, course instructo…" |
| Partner | Microsoft (MSFT) | "We have a number of licensing arrangements, including an exclusive agreement with Mojang AB, a subsidiary of Microsoft, pursuant to which Microsoft and Mojang agreed to license the operation of Minecraft in the PRC to us…" |
| Partner | ByteDance | "This was ultimately resolved through a joint venture deal with ByteDance and American and global investors to operate TikTok's business in the U.S. in January 2026." |
| Competitor | Tencent | "Our competition primarily comes from global online game developers and operators, such as Tencent, established online and offline education service providers and manufacturers of smart hardware or devices in China, as we…" |

Other companies that name NTES in their own reports (relationship from NTES's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| related | Youdao, Inc. (DAO) | 20-F 2026-04-15 | "Related Party Transactions—Transactions with NetEase and Other Related Parties."" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $16.13 | $15.64 | +3.2% | $30.28B | 11 |
| Next quarter (ends 2026-12-31) | $15.50 | $15.70 | -1.3% | $29.51B | 9 |
| Current fiscal year (ends 2026-12-31) | $61.45 | $64.72 | -5.1% | $120.59B | 22 |
| Next fiscal year (ends 2027-12-31) | $71.82 | $71.60 | +0.3% | $129.68B | 24 |