Northwestern Mutual Wealth Management Co. boosted its holdings in shares of NetEase, Inc. (NASDAQ:NTES – Free Report) by 178.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,372 shares of the technology company’s stock after buying an additional 4,721 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in NetEase were worth $1,015,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its holdings in shares of NetEase by 3,381.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock valued at $51,000 after purchasing an additional 372 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of NetEase by 7,480.0% in the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock valued at $52,000 after purchasing an additional 374 shares in the last quarter. Spire Wealth Management raised its holdings in shares of NetEase by 31.3% in the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock valued at $60,000 after purchasing an additional 104 shares in the last quarter. Strs Ohio acquired a new stake in shares of NetEase in the 1st quarter valued at $63,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of NetEase by 479.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 429 shares of the technology company’s stock valued at $65,000 after purchasing an additional 355 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.
NetEase Stock Performance
Shares of NetEase stock opened at $118.70 on Tuesday. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55. The company has a market capitalization of $75.78 billion, a P/E ratio of 15.76, a PEG ratio of 1.66 and a beta of 0.72. The company’s fifty day moving average is $116.04 and its two-hundred day moving average is $124.70.
NetEase Cuts Dividend
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on NTES shares. Nomura reduced their price objective on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Wall Street Zen upgraded shares of NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Morgan Stanley restated an “overweight” rating and issued a $158.00 price objective on shares of NetEase in a report on Tuesday, May 26th. Benchmark restated a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Finally, Barclays reduced their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.38.
Get Our Latest Research 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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