State of New Jersey Common Pension Fund D Sells 1,407 Shares of NetEase, Inc. (NASDAQ:NTES)

State of New Jersey Common Pension Fund D trimmed its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,875 shares of the technology company’s stock after selling 1,407 shares during the period. State of New Jersey Common Pension Fund D’s holdings in NetEase were worth $6,590,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NetEase by 13,747.9% during the third 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 worth $585,227,000 after purchasing an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. lifted its position in shares of NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after purchasing an additional 1,203,129 shares in the last quarter. Temasek Holdings Private Ltd acquired a new position in shares of NetEase during the third quarter worth approximately $51,498,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of NetEase by 472.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company’s stock worth $39,087,000 after purchasing an additional 345,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of NetEase during the third quarter worth approximately $11,636,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NTES. Morgan Stanley upped their target price on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Bank of America raised their price objective on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Citigroup raised their price objective on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Benchmark reduced their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

NetEase Stock Up 1.1 %

Shares of NASDAQ NTES opened at $104.63 on Wednesday. The company’s fifty day moving average is $97.20 and its 200-day moving average is $89.35. The stock has a market cap of $67.19 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 3.45 and a beta of 0.58. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $114.50.

About NetEase

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.