FengHe Fund Management Pte. Ltd. acquired a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 342,600 shares of the technology company's stock, valued at approximately $30,563,000. NetEase comprises about 9.0% of FengHe Fund Management Pte. Ltd.'s investment portfolio, making the stock its 5th largest holding. FengHe Fund Management Pte. Ltd. owned about 0.05% of NetEase at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NTES. V Square Quantitative Management LLC raised its stake in shares of NetEase by 17.8% during the fourth quarter. V Square Quantitative Management LLC now owns 4,694 shares of the technology company's stock valued at $421,000 after acquiring an additional 710 shares during the last quarter. Focus Financial Network Inc. bought a new position in shares of NetEase during the fourth quarter valued at $318,000. Empowered Funds LLC bought a new position in shares of NetEase during the fourth quarter valued at $174,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of NetEase by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company's stock valued at $641,000 after acquiring an additional 114 shares during the last quarter. Finally, WT Asset Management Ltd bought a new position in shares of NetEase during the fourth quarter valued at $2,624,000. Institutional investors own 11.07% of the company's stock.
NetEase Stock Down 2.6 %
NASDAQ:NTES traded down $2.75 during trading hours on Thursday, reaching $101.42. The company had a trading volume of 2,009,174 shares, compared to its average volume of 1,361,781. The firm has a market cap of $65.13 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 3.48 and a beta of 0.58. The business's 50-day simple moving average is $97.51 and its two-hundred day simple moving average is $89.56. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $114.50.
NetEase (NASDAQ:NTES - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.14. NetEase had a net margin of 26.02% and a return on equity of 20.82%. As a group, equities analysts predict that NetEase, Inc. will post 6.06 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 6th. Benchmark decreased their price objective on shares of NetEase from $120.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Morgan Stanley increased their price objective on shares of NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Bank of America increased their price objective on shares of NetEase from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, NetEase currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.
View Our Latest Analysis on NetEase
About NetEase
(
Free Report)
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.
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