Handelsbanken Fonder AB Reduces Holdings in NetEase, Inc. (NASDAQ:NTES)

Handelsbanken Fonder AB reduced its stake in NetEase, Inc. (NASDAQ:NTES) by 4.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 444,220 shares of the technology company’s stock after selling 23,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.07% of NetEase worth $39,629,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of NetEase by 13,747.9% in the 3rd 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 acquiring an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. grew its position in NetEase by 86.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after purchasing an additional 1,203,129 shares during the period. Temasek Holdings Private Ltd acquired a new stake in NetEase during the 3rd quarter worth about $51,498,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of NetEase by 472.6% during the 3rd 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 buying an additional 345,000 shares during the last quarter. Finally, FengHe Fund Management Pte. Ltd. acquired a new position in shares of NetEase in the 4th quarter valued at about $30,563,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NTES. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Bank of America increased their price target on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Benchmark cut their price objective 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 price target 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. Finally, Morgan Stanley boosted their price target on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

NetEase Stock Performance

Shares of NTES opened at $101.42 on Friday. The stock has a 50 day moving average price of $97.61 and a 200 day moving average price of $89.64. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50. The stock has a market capitalization of $65.13 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 3.48 and a beta of 0.58.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (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%. On average, analysts predict that NetEase, Inc. will post 6.06 earnings per share for the current year.

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.