NetEase, Inc. (NASDAQ:NTES) Shares Sold by Flossbach Von Storch SE

Flossbach Von Storch SE cut its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,000 shares of the technology company’s stock after selling 2,500 shares during the period. Flossbach Von Storch SE’s holdings in NetEase were worth $1,784,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in NetEase in the fourth quarter worth approximately $34,000. UMB Bank n.a. lifted its holdings in shares of NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after buying an additional 111 shares during the period. Highline Wealth Partners LLC acquired a new stake in NetEase in the 3rd quarter valued at about $45,000. RPg Family Wealth Advisory LLC bought a new stake in shares of NetEase during the 3rd quarter worth $70,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in NetEase during the 3rd quarter worth approximately $76,000. Institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NTES shares. Benchmark decreased their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Citigroup lifted their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upped their price target on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Bank of America lifted their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, NetEase has an average rating of “Moderate Buy” and a consensus target price of $110.00.

NetEase Stock Performance

Shares of NASDAQ NTES opened at $104.17 on Thursday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $114.50. The firm has a 50 day moving average price of $97.51 and a 200 day moving average price of $89.56. The stock has a market cap of $66.89 billion, a P/E ratio of 17.60, a P/E/G ratio of 3.48 and a beta of 0.58.

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.