NetEase, Inc. $NTES Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in NetEase, Inc. (NASDAQ:NTES) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,502 shares of the technology company’s stock after selling 5,783 shares during the period. Thrivent Financial for Lutherans’ holdings in NetEase were worth $10,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in shares of NetEase by 19.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 457 shares of the technology company’s stock valued at $69,000 after purchasing an additional 74 shares during the period. Hardy Reed LLC lifted its holdings in NetEase by 0.9% during the third quarter. Hardy Reed LLC now owns 8,538 shares of the technology company’s stock valued at $1,298,000 after purchasing an additional 79 shares in the last quarter. Main Street Research LLC lifted its holdings in NetEase by 2.1% during the third quarter. Main Street Research LLC now owns 4,085 shares of the technology company’s stock valued at $621,000 after purchasing an additional 85 shares in the last quarter. Allworth Financial LP lifted its holdings in NetEase by 15.2% during the third quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock valued at $109,000 after purchasing an additional 95 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in NetEase by 31.3% during the fourth quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock valued at $60,000 after purchasing an additional 104 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NTES. Barclays decreased their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Nomura decreased their price objective on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $154.00 price objective on shares of NetEase in a report on Monday, March 2nd. Citigroup reaffirmed a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Thursday, February 12th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.88.

NetEase Stock Up 0.8%

Shares of NASDAQ NTES opened at $114.49 on Wednesday. The firm has a 50-day simple moving average of $114.61 and a 200-day simple moving average of $126.60. The stock has a market capitalization of $72.54 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72. NetEase, Inc. has a 52 week low of $108.67 and a 52 week high of $159.55.

NetEase 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.