KBC Group NV Has $5.60 Million Position in NetEase, Inc. $NTES

KBC Group NV trimmed its position in NetEase, Inc. (NASDAQ:NTES) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,639 shares of the technology company’s stock after selling 1,986 shares during the quarter. KBC Group NV’s holdings in NetEase were worth $5,604,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NTES. NewSquare Capital LLC boosted its position in shares of NetEase by 137.2% in the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after acquiring an additional 107 shares during the period. Private Trust Co. NA raised its stake in NetEase by 266.0% in the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. USA Financial Formulas bought a new stake in NetEase in the 2nd quarter valued at about $30,000. Reyes Financial Architecture Inc. increased its holdings in shares of NetEase by 1,189.5% during the second quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after purchasing an additional 226 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in shares of NetEase during the second quarter worth approximately $33,000. Institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NTES shares. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research report on Wednesday, October 8th. Wall Street Zen cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price target on shares of NetEase in a research note on Wednesday, October 8th. The Goldman Sachs Group set a $161.00 price objective on shares of NetEase and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, Barclays set a $120.00 target price on shares of NetEase and gave the company an “equal weight” rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

NetEase Trading Down 1.2%

NTES opened at $140.13 on Friday. The company’s 50 day moving average is $147.62 and its 200-day moving average is $134.66. The company has a market cap of $88.79 billion, a P/E ratio of 18.96, a PEG ratio of 1.91 and a beta of 0.65. NetEase, Inc. has a 1-year low of $83.43 and a 1-year high of $159.55.

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.