Mawer Investment Management Ltd. boosted its holdings in shares of NetEase, Inc. (NASDAQ:NTES – Free Report) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 559,896 shares of the technology company’s stock after purchasing an additional 108,446 shares during the quarter. Mawer Investment Management Ltd. owned approximately 0.09% of NetEase worth $77,053,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of NTES. Cornerstone Planning Group LLC purchased a new position in NetEase during the third quarter worth approximately $33,000. Smartleaf Asset Management LLC boosted its position in NetEase by 3,381.8% during the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after purchasing an additional 372 shares in the last quarter. Harbour Investments Inc. boosted its position in NetEase by 7,480.0% during the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after purchasing an additional 374 shares in the last quarter. Spire Wealth Management boosted its position in NetEase by 31.3% during the fourth quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after purchasing an additional 104 shares in the last quarter. Finally, Strs Ohio purchased a new position in NetEase during the first quarter worth approximately $63,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.
NetEase Stock Performance
Shares of NetEase stock opened at $123.27 on Tuesday. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The company has a market cap of $78.70 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.71 and a beta of 0.72. The business’s 50 day moving average price is $115.12 and its 200 day moving average price is $125.35.
NetEase Cuts Dividend
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Nomura decreased their target price on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Morgan Stanley restated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a research report on Tuesday, May 26th. Benchmark restated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Citigroup restated a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Finally, Wall Street Zen upgraded NetEase from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and an average price target of $157.38.
Check Out Our Latest Stock Report on NetEase
About NetEase
NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.
The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.
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