Advisory Resource Group Takes $1.31 Million Position in NetEase, Inc. $NTES

Advisory Resource Group purchased 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 SEC. The fund purchased 9,754 shares of the technology company’s stock, valued at approximately $1,313,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTES. Bridgewater Advisors Inc. grew its position in NetEase by 3.3% in the second quarter. Bridgewater Advisors Inc. now owns 2,527 shares of the technology company’s stock worth $332,000 after acquiring an additional 80 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of NetEase by 3.5% in the 2nd quarter. Venturi Wealth Management LLC now owns 2,527 shares of the technology company’s stock valued at $340,000 after purchasing an additional 86 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in NetEase by 4.6% in the second quarter. Checchi Capital Advisers LLC now owns 2,347 shares of the technology company’s stock worth $316,000 after purchasing an additional 103 shares in the last quarter. NewSquare Capital LLC increased its position in NetEase by 137.2% during the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after buying an additional 107 shares during the last quarter. Finally, Brighton Jones LLC increased its position in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after buying an additional 117 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Trading Down 1.2%

NTES opened at $140.13 on Friday. The stock’s 50 day simple moving average is $147.62 and its 200-day simple moving average is $134.46. The stock has a market cap of $88.79 billion, a PE ratio of 18.96, a P/E/G 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.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NTES shares. Arete Research upgraded NetEase to a “strong-buy” rating in a research note on Wednesday, September 3rd. Wall Street Zen cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price target on shares of NetEase in a research report on Wednesday, October 8th. Barclays set a $120.00 price objective on shares of NetEase and gave the stock an “equal weight” rating in a report on Monday, August 18th. Finally, Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and an average target price of $145.33.

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.