NetEase, Inc. (NTES) Downgraded by Jefferies Group LLC
Jefferies Group LLC downgraded shares of NetEase, Inc. (NASDAQ:NTES) from a buy rating to a hold rating in a research note published on Tuesday, MarketBeat Ratings reports. Jefferies Group LLC currently has $290.00 price target on the technology company’s stock, down from their prior price target of $330.00.
NTES has been the topic of a number of other reports. Zacks Investment Research downgraded shares of NetEase from a buy rating to a hold rating in a research report on Tuesday, August 8th. BidaskClub raised shares of NetEase from a hold rating to a buy rating in a research report on Thursday, August 10th. CLSA downgraded shares of NetEase from an outperform rating to an underperform rating in a research report on Thursday, August 10th. Vetr downgraded shares of NetEase from a strong-buy rating to a buy rating and set a $327.04 target price on the stock. in a research report on Monday, September 18th. Finally, Standpoint Research downgraded shares of NetEase from a buy rating to a reduce rating and increased their target price for the company from $345.00 to $360.00 in a research report on Wednesday, June 7th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $301.59.
Shares of NetEase (NTES) traded up 1.31% during trading on Tuesday, reaching $276.69. 948,020 shares of the company traded hands. NetEase has a 52 week low of $211.11 and a 52 week high of $337.55.
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Several hedge funds have recently added to or reduced their stakes in NTES. Comerica Bank lifted its stake in shares of NetEase by 2.6% in the 1st quarter. Comerica Bank now owns 8,074 shares of the technology company’s stock worth $2,145,000 after acquiring an additional 204 shares during the period. Oxford Asset Management acquired a new stake in shares of NetEase in the 1st quarter worth $609,000. Stifel Financial Corp lifted its stake in shares of NetEase by 30.3% in the 1st quarter. Stifel Financial Corp now owns 2,408 shares of the technology company’s stock worth $679,000 after acquiring an additional 560 shares during the period. Victory Capital Management Inc. lifted its stake in shares of NetEase by 52.6% in the 1st quarter. Victory Capital Management Inc. now owns 33,082 shares of the technology company’s stock worth $9,395,000 after acquiring an additional 11,399 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of NetEase in the 1st quarter worth $229,000. Institutional investors own 50.38% of the company’s stock.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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