NetEase, Inc. (NASDAQ:NTES) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lowered its position in shares of NetEase, Inc. (NASDAQ:NTES) by 49.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,263 shares of the technology company’s stock after selling 2,246 shares during the period. Blue Trust Inc.’s holdings in NetEase were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of NetEase during the 4th quarter worth approximately $34,000. UMB Bank n.a. increased 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 purchasing an additional 111 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in NetEase in the 3rd quarter valued at approximately $45,000. RPg Family Wealth Advisory LLC acquired a new stake in NetEase in the 3rd quarter valued at approximately $70,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in NetEase in the 3rd quarter valued at approximately $76,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NTES. Citigroup lifted their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Benchmark decreased their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Morgan Stanley raised their price target on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Bank of America raised their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.00.

NetEase Price Performance

Shares of NTES opened at $104.17 on Thursday. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $114.50. The stock has a market cap of $66.89 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 3.44 and a beta of 0.58. The firm has a fifty day moving average price of $97.51 and a 200 day moving average price of $89.56.

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.