Vontobel Holding Ltd. Reduces Stock Position in NetEase, Inc. (NASDAQ:NTES)

Vontobel Holding Ltd. lowered its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 6.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 67,723 shares of the technology company’s stock after selling 4,497 shares during the quarter. Vontobel Holding Ltd.’s holdings in NetEase were worth $6,042,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in NetEase during the 4th quarter valued at $34,000. UMB Bank n.a. boosted its holdings in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after acquiring an additional 111 shares during the period. Highline Wealth Partners LLC purchased a new position in NetEase during the 3rd quarter valued at $45,000. RPg Family Wealth Advisory LLC purchased a new position in NetEase during the 3rd quarter valued at $70,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in NetEase during the 3rd quarter valued at $76,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NASDAQ NTES opened at $103.50 on Friday. The stock has a market capitalization of $66.46 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $114.50. The business has a fifty day moving average price of $97.15 and a 200 day moving average price of $89.30.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley upped their target price on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America upped their target price on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Citigroup upped their target price on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Benchmark lowered their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

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.