NetEase, Inc. (NASDAQ:NTES) Shares Sold by Handelsbanken Fonder AB

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

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

Wall Street Analysts Forecast Growth

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

NetEase Trading Down 2.6 %

NTES stock opened at $101.42 on Friday. The business’s fifty day moving average price is $97.61 and its 200 day moving average price is $89.64. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $114.50. The company has a market capitalization of $65.13 billion, a PE ratio of 17.13, a P/E/G ratio of 3.48 and a beta of 0.58.

NetEase (NASDAQ:NTES) last issued its quarterly 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%. Research analysts predict that NetEase, Inc. will post 6.06 EPS for the current fiscal 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.