UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in NetEase, Inc. (NASDAQ:NTES – Free Report) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,144,927 shares of the technology company’s stock after selling 406,190 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.29% of NetEase worth $1,120,905,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of NTES. Bank of Montreal Can lifted its holdings in NetEase by 1,636.4% during the third quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock worth $100,702,000 after acquiring an additional 624,399 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in shares of NetEase in the fourth quarter valued at $44,214,000. Man Group plc raised its stake in shares of NetEase by 33.3% in the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock valued at $132,313,000 after buying an additional 245,872 shares during the period. Causeway Capital Management LLC raised its stake in shares of NetEase by 44.6% in the third quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company’s stock valued at $97,017,000 after buying an additional 196,821 shares during the period. Finally, Tiger Pacific Capital LP bought a new stake in shares of NetEase in the third quarter valued at $28,993,000. 11.07% of the stock is currently owned by institutional investors.
NetEase Stock Performance
Shares of NASDAQ:NTES opened at $125.82 on Friday. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55. The firm has a market capitalization of $80.33 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.63 and a beta of 0.72. The stock has a 50 day moving average price of $117.11 and a 200-day moving average price of $124.50.
NetEase Cuts Dividend
Analyst Upgrades and Downgrades
Several analysts have issued reports on NTES shares. Morgan Stanley restated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Zacks Research upgraded NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Benchmark restated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. Wall Street Zen upgraded NetEase from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Nomura cut their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $157.38.
Get Our Latest Research Report on NetEase
NetEase Profile
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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