NetEase, Inc. $NTES Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its position in shares of NetEase, Inc. (NASDAQ:NTES) by 326.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,635 shares of the technology company’s stock after purchasing an additional 42,587 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in NetEase were worth $7,487,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in shares of NetEase in the 1st quarter valued at about $2,554,000. Edmond DE Rothschild Holding S.A. lifted its holdings in NetEase by 5.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 41,100 shares of the technology company’s stock worth $4,230,000 after acquiring an additional 2,100 shares during the last quarter. Royal Bank of Canada boosted its stake in NetEase by 125.0% in the first quarter. Royal Bank of Canada now owns 212,466 shares of the technology company’s stock valued at $21,866,000 after acquiring an additional 118,042 shares during the period. Avantax Advisory Services Inc. acquired a new position in NetEase in the first quarter valued at approximately $207,000. Finally, Cerity Partners LLC grew its holdings in shares of NetEase by 262.1% during the first quarter. Cerity Partners LLC now owns 21,136 shares of the technology company’s stock valued at $2,175,000 after purchasing an additional 15,299 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $138.00 to $190.00 in a report on Friday, October 10th. Arete upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Wednesday, September 3rd. Wall Street Zen downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday. Arete Research raised shares of NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Barclays set a $120.00 target price on shares of NetEase and gave the company an “equal weight” rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.33.

NetEase Stock Down 1.2%

NTES stock opened at $140.13 on Monday. The company has a 50-day simple moving average of $147.62 and a 200 day simple moving average of $134.85. The company has a market capitalization 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 fifty-two week low of $83.43 and a fifty-two week high of $159.55.

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.