Neuberger Berman Group LLC Raises Stake in NetEase, Inc. (NASDAQ:NTES)

Key Points

• Neuberger Berman Group LLC increased its stake in NetEase, Inc. by 51.0%, owning 193,939 shares valued at approximately $19.94 million as of the end of the first quarter.
• Other institutional investors, including Sumitomo Mitsui Trust Group Inc. and GAMMA Investing LLC, also raised their positions in NetEase during the same period, reflecting growing interest in the company.
• Analyst ratings for NetEase vary, with a new "strong buy" rating from Wall Street Zen, while JPMorgan Chase downgraded the stock from "overweight" to "neutral," raising its price target to $140.00.

Neuberger Berman Group LLC grew its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 51.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,939 shares of the technology company's stock after acquiring an additional 65,514 shares during the period. Neuberger Berman Group LLC's holdings in NetEase were worth $19,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of NetEase by 20.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock valued at $894,000 after acquiring an additional 1,495 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of NetEase in the first quarter valued at about $398,000. Concurrent Investment Advisors LLC boosted its holdings in shares of NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after acquiring an additional 132 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of NetEase by 10,192.0% in the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after acquiring an additional 2,548 shares in the last quarter. Finally, Pine Haven Investment Counsel Inc purchased a new stake in NetEase during the first quarter worth about $206,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Trading Up 3.0%

Shares of NTES opened at $134.90 on Thursday. The stock has a market cap of $85.47 billion, a P/E ratio of 19.41, a PEG ratio of 4.55 and a beta of 0.67. The company has a 50-day moving average of $131.94 and a two-hundred day moving average of $114.51. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $141.45.

Analyst Ratings Changes

NTES has been the topic of a number of research analyst reports. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $135.00 to $140.00 in a report on Monday, July 28th. Barclays boosted their price objective on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

NetEase 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.

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