Northwestern Mutual Wealth Management Co. Buys 107,292 Shares of NetEase, Inc. $NTES

Northwestern Mutual Wealth Management Co. grew its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 4,047.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,943 shares of the technology company’s stock after buying an additional 107,292 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in NetEase were worth $15,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTES. Brighton Jones LLC boosted its holdings in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after buying an additional 117 shares during the last quarter. Strs Ohio bought a new position in NetEase during the first quarter worth about $63,000. EverSource Wealth Advisors LLC boosted its holdings in NetEase by 106.9% during the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after buying an additional 280 shares during the last quarter. First Trust Advisors LP increased its position in shares of NetEase by 287.4% in the 2nd quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock valued at $12,324,000 after buying an additional 67,934 shares in the last quarter. Finally, Walleye Capital LLC increased its position in shares of NetEase by 670.9% in the 2nd quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock valued at $709,000 after buying an additional 4,582 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

NTES has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Benchmark reiterated a “buy” rating on shares of NetEase in a report on Thursday, February 12th. Barclays reduced their target price on 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 NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $154.00 price objective on shares of NetEase in a research report on Monday, March 2nd. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.88.

NetEase Stock Performance

Shares of NTES opened at $116.82 on Thursday. The stock has a 50 day simple moving average of $114.59 and a 200 day simple moving average of $126.44. NetEase, Inc. has a 52-week low of $108.67 and a 52-week high of $159.55. The firm has a market capitalization of $74.02 billion, a PE ratio of 15.92, a P/E/G ratio of 1.48 and a beta of 0.72.

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.