Van ECK Associates Corp Lowers Position in NetEase, Inc. (NASDAQ:NTES)

Van ECK Associates Corp cut its stake in NetEase, Inc. (NASDAQ:NTES) by 10.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 597,627 shares of the technology company’s stock after selling 68,784 shares during the quarter. Van ECK Associates Corp’s holdings in NetEase were worth $53,314,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NetEase by 13,747.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock valued at $585,227,000 after purchasing an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in shares of NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after purchasing an additional 1,203,129 shares during the last quarter. Temasek Holdings Private Ltd purchased a new position in shares of NetEase during the third quarter valued at approximately $51,498,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of NetEase by 472.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company’s stock valued at $39,087,000 after purchasing an additional 345,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of NetEase during the third quarter valued at approximately $11,636,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Down 4.0 %

Shares of NASDAQ NTES opened at $104.81 on Friday. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $114.50. The firm has a market cap of $67.30 billion, a P/E ratio of 17.70, a PEG ratio of 3.45 and a beta of 0.58. The company has a 50 day moving average of $96.62 and a 200 day moving average of $89.11.

Analysts Set New Price Targets

NTES has been the subject of several recent research reports. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Morgan Stanley lifted their target price on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup lifted their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Bank of America boosted their price objective on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, 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 report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

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.