Jupiter Asset Management Ltd. Acquires Shares of 28,129 NetEase, Inc. $NTES

Jupiter Asset Management Ltd. bought a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,129 shares of the technology company’s stock, valued at approximately $3,786,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of NetEase by 326.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 55,635 shares of the technology company’s stock worth $7,487,000 after acquiring an additional 42,587 shares during the period. SBI Securities Co. Ltd. boosted its stake in NetEase by 24.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,171 shares of the technology company’s stock worth $158,000 after purchasing an additional 228 shares during the period. Advyzon Investment Management LLC bought a new position in NetEase in the 2nd quarter worth about $1,752,000. Vise Technologies Inc. bought a new stake in shares of NetEase during the second quarter valued at about $950,000. Finally, Midwest Trust Co purchased a new stake in shares of NetEase in the second quarter worth about $300,000. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NTES shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research note on Wednesday, October 8th. The Goldman Sachs Group set a $161.00 price target on shares of NetEase and gave the company a “buy” rating in a report on Monday, September 15th. Barclays set a $120.00 price target on shares of NetEase and gave the stock an “equal weight” rating in a report on Monday, August 18th. Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Finally, Morgan Stanley restated an “overweight” rating and set a $170.00 target price on shares of NetEase in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and a consensus price target of $142.30.

NetEase Stock Down 0.4%

NTES opened at $141.80 on Friday. The stock has a market cap of $89.84 billion, a PE ratio of 19.19, a P/E/G ratio of 1.91 and a beta of 0.65. NetEase, Inc. has a 52 week low of $80.89 and a 52 week high of $159.55. The business’s fifty day simple moving average is $147.51 and its 200 day simple moving average is $134.22.

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.