NetEase Inc (NASDAQ:NTES) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other equities research analysts have also weighed in on the stock. Standpoint Research lowered shares of NetEase from a “buy” rating to a “reduce” rating and increased their price objective for the stock from $345.00 to $360.00 in a research note on Wednesday, June 7th. Jefferies Group LLC reiterated a “buy” rating and set a $330.00 price objective on shares of NetEase in a research note on Friday, June 16th. Vetr upgraded shares of NetEase from a “hold” rating to a “buy” rating and set a $303.74 price objective on the stock in a research note on Wednesday, March 8th. Instinet lowered shares of NetEase from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $307.00 to $297.00 in a research note on Thursday, May 11th. Finally, Nomura reiterated a “hold” rating and set a $297.00 price objective (down previously from $305.00) on shares of NetEase in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NetEase currently has an average rating of “Buy” and a consensus target price of $295.84.

NetEase (NASDAQ:NTES) traded down 0.90% during mid-day trading on Wednesday, hitting $294.15. The stock had a trading volume of 1,557,254 shares. NetEase has a one year low of $182.86 and a one year high of $337.55.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in NetEase by 1,571.4% in the first quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock valued at $1,431,127,000 after buying an additional 4,737,686 shares during the period. Credit Agricole S A boosted its position in NetEase by 19.2% in the first quarter. Credit Agricole S A now owns 4,395,661 shares of the technology company’s stock valued at $1,248,368,000 after buying an additional 709,148 shares during the period. Renaissance Technologies LLC boosted its position in NetEase by 12.7% in the first quarter. Renaissance Technologies LLC now owns 2,269,700 shares of the technology company’s stock valued at $644,595,000 after buying an additional 255,800 shares during the period. State Street Corp boosted its position in NetEase by 8.8% in the first quarter. State Street Corp now owns 1,712,268 shares of the technology company’s stock valued at $486,279,000 after buying an additional 137,801 shares during the period. Finally, FMR LLC boosted its position in NetEase by 165.4% in the first quarter. FMR LLC now owns 1,328,919 shares of the technology company’s stock valued at $377,413,000 after buying an additional 828,139 shares during the period. Institutional investors and hedge funds own 54.99% of the company’s stock.

About NetEase

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.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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