NetEase, Inc. (NTES) Lowered to Hold at Jefferies Group LLC
Jefferies Group LLC cut shares of NetEase, Inc. (NASDAQ:NTES) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat.com reports. The firm currently has $290.00 price target on the technology company’s stock, down from their prior price target of $330.00.
Several other research analysts have also commented on NTES. Standpoint Research lowered NetEase from a buy rating to a reduce rating and lifted their price target for the stock from $345.00 to $360.00 in a research report on Wednesday, June 7th. BidaskClub upgraded NetEase from a buy rating to a strong-buy rating in a research report on Friday, June 9th. Zacks Investment Research upgraded NetEase from a hold rating to a strong-buy rating and set a $346.00 price target for the company in a research report on Wednesday, July 12th. Deutsche Bank AG reiterated a buy rating and issued a $343.00 price target (up previously from $300.00) on shares of NetEase in a research report on Tuesday, July 25th. Finally, CLSA lowered NetEase from an outperform rating to an underperform rating in a research report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. NetEase currently has a consensus rating of Hold and a consensus price target of $301.59.
Shares of NetEase (NASDAQ NTES) traded up 1.31% during midday trading on Tuesday, reaching $276.69. The company had a trading volume of 948,060 shares. NetEase has a 52 week low of $211.11 and a 52 week high of $337.55.
Several large investors have recently made changes to their positions in NTES. Comerica Bank boosted its position in shares of NetEase by 2.6% during the first quarter. Comerica Bank now owns 8,074 shares of the technology company’s stock valued at $2,145,000 after buying an additional 204 shares during the period. Oxford Asset Management purchased a new position in shares of NetEase during the first quarter valued at approximately $609,000. Stifel Financial Corp boosted its position in shares of NetEase by 30.3% during the first quarter. Stifel Financial Corp now owns 2,408 shares of the technology company’s stock valued at $679,000 after buying an additional 560 shares during the period. Victory Capital Management Inc. boosted its position in shares of NetEase by 52.6% during the first quarter. Victory Capital Management Inc. now owns 33,082 shares of the technology company’s stock valued at $9,395,000 after buying an additional 11,399 shares during the period. Finally, Blair William & Co. IL purchased a new position in shares of NetEase during the first quarter valued at approximately $229,000. Institutional investors and hedge funds own 50.38% of the company’s stock.
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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