UBS AG cut shares of NetEase, Inc. (NASDAQ:NTES) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, The Fly reports.
NTES has been the topic of several other research reports. BidaskClub downgraded NetEase from a buy rating to a hold rating in a research report on Wednesday, August 16th. Deutsche Bank AG reaffirmed a buy rating and issued a $343.00 price target (up previously from $300.00) on shares of NetEase in a report on Tuesday, July 25th. Credit Suisse Group reaffirmed an outperform rating and issued a $315.00 price target on shares of NetEase in a report on Tuesday, October 3rd. CLSA cut NetEase from an outperform rating to an underperform rating in a report on Thursday, August 10th. Finally, Zacks Investment Research raised NetEase from a hold rating to a strong-buy rating and set a $346.00 price target for the company in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. NetEase presently has an average rating of Hold and an average target price of $298.82.
NetEase (NTES) traded up $4.55 during midday trading on Monday, hitting $280.52. The stock had a trading volume of 1,398,909 shares, compared to its average volume of 1,090,797. The firm has a market cap of $36.47 billion, a PE ratio of 18.08 and a beta of 0.91.
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Hedge funds have recently bought and sold shares of the business. IFP Advisors Inc increased its stake in NetEase by 21.4% during the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after acquiring an additional 69 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in NetEase by 22.4% during the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after acquiring an additional 98 shares during the last quarter. Mariner Wealth Advisors LLC acquired a new stake in NetEase during the second quarter worth $203,000. Huntington National Bank increased its stake in NetEase by 84.7% during the second quarter. Huntington National Bank now owns 700 shares of the technology company’s stock worth $210,000 after acquiring an additional 321 shares during the last quarter. Finally, Hikari Power Ltd acquired a new stake in NetEase during the second quarter worth $210,000. 50.41% of the stock is owned by institutional investors.
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.
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