Van ECK Associates Corp Has $53.31 Million Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Van ECK Associates Corp trimmed its holdings in NetEase, Inc. (NASDAQ:NTES) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 597,627 shares of the technology company’s stock after selling 68,784 shares during the quarter. Van ECK Associates Corp owned about 0.09% of NetEase worth $53,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brooklyn Investment Group acquired a new position in NetEase during the 4th quarter worth approximately $34,000. UMB Bank n.a. raised its stake in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after buying an additional 111 shares during the period. Highline Wealth Partners LLC acquired a new position in NetEase during the 3rd quarter worth approximately $45,000. RPg Family Wealth Advisory LLC acquired a new position in NetEase during the 3rd quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in NetEase during the 3rd quarter worth approximately $76,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Price Performance

NASDAQ NTES opened at $104.81 on Friday. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The business’s 50-day moving average is $96.62 and its 200 day moving average is $89.11. The stock has a market capitalization of $67.30 billion, a PE ratio of 17.70, a PEG ratio of 3.45 and a beta of 0.58.

Analyst Ratings Changes

A number of analysts have commented on NTES shares. Benchmark decreased their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Morgan Stanley boosted their price objective on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America boosted their price objective on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Citigroup boosted their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

NetEase Company Profile

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.