Sumitomo Mitsui Trust Group Inc. Has $641,000 Stock Position in NetEase, Inc. (NASDAQ:NTES)

Sumitomo Mitsui Trust Group Inc. boosted its position in NetEase, Inc. (NASDAQ:NTES) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,190 shares of the technology company’s stock after purchasing an additional 114 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in NetEase were worth $641,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in NetEase in the 4th quarter valued at about $34,000. UMB Bank n.a. raised its holdings in NetEase by 33.3% in 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 bought a new position in NetEase in the 3rd quarter valued at about $45,000. RPg Family Wealth Advisory LLC bought a new position in NetEase in the 3rd quarter valued at about $70,000. Finally, Allspring Global Investments Holdings LLC bought a new position in NetEase in the 3rd quarter valued at about $76,000. 11.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $103.50 on Friday. The firm has a market cap of $66.46 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58. The firm’s fifty day moving average is $96.91 and its 200-day moving average is $89.22. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $114.50.

About NetEase

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.