State of New Jersey Common Pension Fund D Sells 1,407 Shares of NetEase, Inc. (NASDAQ:NTES)

State of New Jersey Common Pension Fund D trimmed its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,875 shares of the technology company’s stock after selling 1,407 shares during the period. State of New Jersey Common Pension Fund D’s holdings in NetEase were worth $6,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NetEase by 13,747.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock worth $585,227,000 after acquiring an additional 6,213,248 shares during the period. Hhlr Advisors LTD. raised its holdings in shares of NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after acquiring an additional 1,203,129 shares during the period. Fisher Asset Management LLC raised its holdings in shares of NetEase by 7.8% during the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after acquiring an additional 82,474 shares during the period. Wellington Management Group LLP raised its holdings in shares of NetEase by 1.1% during the third quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company’s stock worth $95,400,000 after acquiring an additional 10,920 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of NetEase by 12.3% during the third quarter. Van ECK Associates Corp now owns 666,411 shares of the technology company’s stock worth $62,316,000 after acquiring an additional 72,988 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on NTES. Benchmark dropped their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Citigroup raised their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Bank of America lifted their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley lifted their price target on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

NetEase Price Performance

NetEase stock opened at $104.63 on Wednesday. The firm has a market capitalization of $67.19 billion, a PE ratio of 17.67, a P/E/G ratio of 3.45 and a beta of 0.58. The company’s 50-day moving average is $97.20 and its 200-day moving average is $89.35. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50.

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.