NetEase (NASDAQ:NTES) Cut to “Buy” at StockNews.com

NetEase (NASDAQ:NTES) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other research firms have also recently weighed in on NTES. Bank of America dropped their price target on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Citigroup boosted their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group lowered their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Barclays dropped their price objective on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Finally, Benchmark decreased their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, NetEase has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Stock Performance

Shares of NTES stock opened at $90.36 on Friday. The company has a market capitalization of $58.03 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 3.30 and a beta of 0.57. NetEase has a 52 week low of $75.85 and a 52 week high of $114.50. The company has a 50-day simple moving average of $85.89 and a 200 day simple moving average of $87.90.

Institutional Trading of NetEase

Large investors have recently made changes to their positions in the company. Mather Group LLC. lifted its stake in NetEase by 1,415.0% during the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after purchasing an additional 283 shares during the last quarter. OLD National Bancorp IN acquired a new stake in NetEase in the second quarter valued at about $363,000. Sequoia Financial Advisors LLC grew its position in NetEase by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock valued at $246,000 after acquiring an additional 107 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in NetEase by 26.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,986 shares of the technology company’s stock worth $1,146,000 after acquiring an additional 2,485 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of NetEase by 39.6% in the second quarter. AdvisorNet Financial Inc now owns 1,400 shares of the technology company’s stock worth $134,000 after acquiring an additional 397 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.