Massachusetts Financial Services Co. MA Trims Position in NetEase, Inc. $NTES

Massachusetts Financial Services Co. MA trimmed its stake in NetEase, Inc. (NASDAQ:NTES) by 13.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,502,902 shares of the technology company’s stock after selling 239,483 shares during the period. Massachusetts Financial Services Co. MA owned about 0.24% of NetEase worth $202,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in NTES. NewSquare Capital LLC raised its stake in shares of NetEase by 137.2% during 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in NetEase in the first quarter worth approximately $26,000. Private Trust Co. NA increased its holdings in NetEase by 266.0% during 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 during the period. USA Financial Formulas bought a new stake in NetEase during the 2nd quarter valued at $30,000. Finally, Reyes Financial Architecture Inc. lifted its holdings in shares of NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after buying an additional 226 shares during the period. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NTES. Arete upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Wednesday, September 3rd. Barclays set a $120.00 target price on shares of NetEase and gave the stock an “equal weight” rating in a report on Monday, August 18th. Zacks Research lowered shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price target on shares of NetEase in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $138.00 to $190.00 in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

NetEase Price Performance

NTES opened at $140.13 on Monday. The firm has a market capitalization of $88.79 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. The business’s 50-day moving average is $147.62 and its two-hundred day moving average is $134.85. NetEase, Inc. has a 1 year low of $83.43 and a 1 year high of $159.55.

NetEase 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.