ABN Amro Investment Solutions Invests $2.06 Million in NetEase, Inc. $NTES

ABN Amro Investment Solutions acquired a new stake in NetEase, Inc. (NASDAQ:NTES) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,278 shares of the technology company’s stock, valued at approximately $2,056,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its holdings in 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 buying an additional 117 shares during the last quarter. Bank of New York Mellon Corp grew its position in NetEase by 1.6% in 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 buying an additional 153 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in NetEase by 16.9% during the first quarter. Envestnet Asset Management Inc. now owns 74,500 shares of the technology company’s stock worth $7,668,000 after purchasing an additional 10,757 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of NetEase by 262.1% in the first quarter. Cerity Partners LLC now owns 21,136 shares of the technology company’s stock valued at $2,175,000 after buying an additional 15,299 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new position in shares of NetEase in the 1st quarter valued at about $303,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Down 1.2%

NTES stock opened at $140.13 on Friday. 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. The company has a 50-day simple moving average of $147.62 and a 200 day simple moving average of $134.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Arete raised shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Wednesday, October 8th. Arete Research upgraded NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. Barclays set a $120.00 price objective on NetEase and gave the stock an “equal weight” rating in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $138.00 to $190.00 in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.33.

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.