FengHe Fund Management Pte. Ltd. Makes New $30.56 Million Investment in NetEase, Inc. (NASDAQ:NTES)

FengHe Fund Management Pte. Ltd. acquired a new position in NetEase, Inc. (NASDAQ:NTES) in the 4th quarter, Holdings Channel.com reports. The firm acquired 342,600 shares of the technology company’s stock, valued at approximately $30,563,000. NetEase comprises approximately 9.0% of FengHe Fund Management Pte. Ltd.’s portfolio, making the stock its 5th biggest position.

Several other large investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC grew its holdings in NetEase by 17.8% in the fourth quarter. V Square Quantitative Management LLC now owns 4,694 shares of the technology company’s stock valued at $421,000 after purchasing an additional 710 shares during the last quarter. Focus Financial Network Inc. acquired a new stake in NetEase in the fourth quarter valued at $318,000. Empowered Funds LLC acquired a new stake in NetEase in the fourth quarter valued at $174,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in NetEase by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock valued at $641,000 after purchasing an additional 114 shares during the last quarter. Finally, WT Asset Management Ltd acquired a new stake in NetEase in the fourth quarter valued at $2,624,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

NTES has been the topic of several research reports. Citigroup upped their target price on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Benchmark decreased their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Bank of America increased their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Morgan Stanley increased their price objective on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

NetEase Trading Down 1.2 %

Shares of NASDAQ:NTES opened at $103.50 on Monday. The stock’s 50-day moving average price is $97.15 and its two-hundred day moving average price is $89.28. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $114.50. The firm has a market cap of $66.46 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 3.45 and a beta of 0.58.

About NetEase

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.