NetEase (NASDAQ:NTES) Upgraded at Wall Street Zen

NetEase (NASDAQ:NTES) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

A number of other analysts also recently issued reports on NTES. Morgan Stanley reiterated an “overweight” rating and set a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. Zacks Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a research report on Thursday, June 18th. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $157.38.

NetEase Stock Up 7.7%

NetEase stock opened at $123.71 on Friday. NetEase has a 52 week low of $106.06 and a 52 week high of $159.55. The business has a 50-day simple moving average of $118.61 and a 200 day simple moving average of $123.17. The stock has a market cap of $78.98 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.60 and a beta of 0.72.

Institutional Trading of NetEase

Hedge funds have recently bought and sold shares of the company. Range Financial Group LLC purchased a new stake in shares of NetEase in the 4th quarter valued at $1,759,000. Hel Ved Capital Management Ltd raised its position in NetEase by 172.9% in the 3rd quarter. Hel Ved Capital Management Ltd now owns 35,200 shares of the technology company’s stock worth $5,350,000 after purchasing an additional 22,300 shares during the period. American Century Companies Inc. lifted its stake in NetEase by 7.3% in the third quarter. American Century Companies Inc. now owns 803,379 shares of the technology company’s stock worth $122,106,000 after purchasing an additional 54,929 shares during the last quarter. Ovata Capital Management Ltd lifted its stake in NetEase by 228.6% in the third quarter. Ovata Capital Management Ltd now owns 25,300 shares of the technology company’s stock worth $3,850,000 after purchasing an additional 17,600 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in NetEase by 22.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 67,211 shares of the technology company’s stock valued at $9,250,000 after buying an additional 12,173 shares during the period. Institutional investors own 11.07% of the company’s stock.

NetEase Company Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.