Vise Technologies Inc. Makes New $950,000 Investment in NetEase, Inc. $NTES

Vise Technologies Inc. purchased a new position in NetEase, Inc. (NASDAQ:NTES) in the second quarter, HoldingsChannel.com reports. The fund purchased 7,063 shares of the technology company’s stock, valued at approximately $950,000.

A number of other large investors have also made changes to their positions in the stock. Wellington Management Group LLP increased its position in NetEase by 111.7% during the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock worth $204,661,000 after purchasing an additional 1,049,023 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of NetEase by 54.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company’s stock worth $203,560,000 after purchasing an additional 697,192 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of NetEase by 255.0% during the second quarter. Envestnet Asset Management Inc. now owns 264,463 shares of the technology company’s stock worth $35,591,000 after buying an additional 189,963 shares in the last quarter. Ninety One North America Inc. raised its position in shares of NetEase by 52.5% in the second quarter. Ninety One North America Inc. now owns 483,745 shares of the technology company’s stock valued at $65,102,000 after buying an additional 166,432 shares during the last quarter. Finally, Dodge & Cox raised its position in shares of NetEase by 5.8% in the first quarter. Dodge & Cox now owns 2,803,664 shares of the technology company’s stock valued at $288,553,000 after buying an additional 153,788 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NTES. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $138.00 to $190.00 in a research report on Friday, October 10th. The Goldman Sachs Group set a $161.00 target price on shares of NetEase and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Wall Street Zen raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.30.

NetEase Trading Down 0.4%

Shares of NTES stock opened at $141.80 on Friday. The company has a market cap of $89.84 billion, a PE ratio of 19.19, a P/E/G ratio of 1.91 and a beta of 0.65. The company’s fifty day simple moving average is $147.51 and its 200-day simple moving average is $134.22. NetEase, Inc. has a 52 week low of $80.89 and a 52 week high of $159.55.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.