8,500 Shares in NetEase, Inc. $NTES Acquired by Flossbach Von Storch SE

Key Points

• Flossbach Von Storch SE acquired 8,500 NetEase shares in the second quarter, valued at approximately $1.09 million. Institutional investors collectively own 11.07% of the company.
• NetEase shares recently traded at $127.25, up 2.0%, with a market capitalization of $81.47 billion and a price-to-earnings ratio of 16.90.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $158.38, despite some recent downgrades. Separately, NetEase’s general counsel sold 10,000 shares for approximately $1.28 million.

Flossbach Von Storch SE acquired a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,500 shares of the technology company's stock, valued at approximately $1,089,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after acquiring an additional 117 shares during the last quarter. Strs Ohio acquired a new position in NetEase in the 1st quarter worth about $63,000. EverSource Wealth Advisors LLC raised its position in NetEase by 106.9% in the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company's stock valued at $73,000 after purchasing an additional 280 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of NetEase by 287.4% during the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company's stock valued at $12,324,000 after purchasing an additional 67,934 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of NetEase by 670.9% during the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company's stock worth $709,000 after purchasing an additional 4,582 shares during the last quarter. Institutional investors own 11.07% of the company's stock.

NetEase Trading Up 2.0%

Shares of NTES stock opened at $127.25 on Thursday. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $159.55. The stock has a market cap of $81.47 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.62 and a beta of 0.73. The stock has a 50-day moving average of $126.85 and a 200-day moving average of $120.57.

Insider Buying and Selling

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the completion of the sale, the general counsel owned 12,223 shares of the company's stock, valued at approximately $1,568,210.90. This represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 54.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NTES has been the subject of several recent research reports. Weiss Ratings downgraded NetEase from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Benchmark reiterated a "buy" rating on shares of NetEase in a research report on Friday, May 22nd. The Goldman Sachs Group set a $169.00 target price on shares of NetEase in a report on Wednesday, July 1st. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, NetEase has a consensus rating of "Moderate Buy" and a consensus target price of $158.38.

About NetEase

NetEase, Inc NASDAQ: NTES is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company's founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company's primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.

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