Focus Financial Network Inc. Makes New $318,000 Investment in NetEase, Inc. (NASDAQ:NTES)

Focus Financial Network Inc. acquired a new position in NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,563 shares of the technology company’s stock, valued at approximately $318,000.

A number of other institutional investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of NetEase by 13,747.9% during the 3rd 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 valued at $585,227,000 after buying an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. lifted its stake in NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after purchasing an additional 1,203,129 shares during the last quarter. Fisher Asset Management LLC lifted its stake in NetEase by 7.8% during the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock valued at $107,130,000 after purchasing an additional 82,474 shares during the last quarter. Wellington Management Group LLP lifted its stake in NetEase by 1.1% during the third quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company’s stock valued at $95,400,000 after purchasing an additional 10,920 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in NetEase by 12.3% during the third quarter. Van ECK Associates Corp now owns 666,411 shares of the technology company’s stock valued at $62,316,000 after purchasing an additional 72,988 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NTES. Morgan Stanley boosted their target price on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday. Benchmark reduced their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. Citigroup boosted their target price on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Bank of America upped their price target on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.00.

NetEase Price Performance

NASDAQ NTES opened at $104.81 on Friday. The firm has a market cap of $67.30 billion, a P/E ratio of 17.70, a P/E/G ratio of 3.45 and a beta of 0.58. The stock’s 50-day moving average is $96.62 and its 200-day moving average is $89.11. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50.

NetEase Company 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.