ABC Arbitrage SA Acquires New Position in NetEase, Inc. $NTES

ABC Arbitrage SA acquired a new stake in NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,391 shares of the technology company’s stock, valued at approximately $995,000.

A number of other institutional investors have also modified their holdings of NTES. Brighton Jones LLC boosted its holdings in shares of NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after purchasing an additional 117 shares during the period. Bank of New York Mellon Corp raised its position in NetEase by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company’s stock valued at $1,017,000 after purchasing an additional 153 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of NetEase by 16.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 74,500 shares of the technology company’s stock worth $7,668,000 after buying an additional 10,757 shares during the period. Cerity Partners LLC grew its position in shares of NetEase by 262.1% during the 1st quarter. Cerity Partners LLC now owns 21,136 shares of the technology company’s stock worth $2,175,000 after buying an additional 15,299 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of NetEase by 15.1% during the first quarter. Ballentine Partners LLC now owns 3,711 shares of the technology company’s stock valued at $382,000 after buying an additional 488 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NTES shares. Barclays set a $120.00 price objective on shares of NetEase and gave the stock an “equal weight” rating in a research note on Monday, August 18th. Zacks Research cut shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. The Goldman Sachs Group set a $161.00 price objective on shares of NetEase and gave the company a “buy” rating in a research note on Monday, September 15th. Arete Research raised shares of NetEase to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $170.00 target price on shares of NetEase in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.30.

NetEase Price Performance

Shares of NTES stock opened at $142.37 on Thursday. The stock’s fifty day moving average price is $147.33 and its 200 day moving average price is $134.17. NetEase, Inc. has a 1-year low of $75.88 and a 1-year high of $159.55. The company has a market cap of $90.20 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65.

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.