ABN Amro Investment Solutions Purchases Shares of 15,278 NetEase, Inc. $NTES

ABN Amro Investment Solutions purchased a new position in NetEase, Inc. (NASDAQ:NTES) during the second quarter, Holdings Channel.com reports. The firm purchased 15,278 shares of the technology company’s stock, valued at approximately $2,056,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NTES. NewSquare Capital LLC boosted its stake in shares of NetEase by 137.2% during the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after buying an additional 107 shares during the period. Private Trust Co. NA raised its stake in NetEase by 266.0% during the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of NetEase during the 2nd quarter worth approximately $30,000. Reyes Financial Architecture Inc. boosted its stake in NetEase by 1,189.5% during the second quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock worth $33,000 after buying an additional 226 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new position in NetEase during the second quarter worth about $33,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

NTES has been the subject of several analyst reports. Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Wall Street Zen cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. upgraded shares of NetEase from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $138.00 to $190.00 in a report on Friday, October 10th. Barclays set a $120.00 price objective on NetEase and gave the company an “equal weight” rating in a research report on Monday, August 18th. Finally, Morgan Stanley restated an “overweight” rating and issued a $170.00 target price on shares of NetEase in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.33.

NetEase Stock Down 1.2%

Shares of NASDAQ:NTES opened at $140.13 on Friday. The stock has a market cap of $88.79 billion, a PE ratio of 18.96, a P/E/G ratio of 1.91 and a beta of 0.65. The business has a 50 day moving average of $147.62 and a 200-day moving average of $134.46. NetEase, Inc. has a 12-month low of $83.43 and a 12-month high of $159.55.

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.