Focus Financial Network Inc. Takes Position in NetEase, Inc. (NASDAQ:NTES)

Focus Financial Network Inc. purchased a new stake in NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,563 shares of the technology company’s stock, valued at approximately $318,000.

A number of other large investors have also made changes to their positions in the stock. UMB Bank n.a. grew its position in shares of NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after purchasing an additional 111 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of NetEase by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock valued at $641,000 after purchasing an additional 114 shares in the last quarter. Brighton Jones LLC grew its position in shares of NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after purchasing an additional 117 shares in the last quarter. State Street Corp grew its position in shares of NetEase by 0.3% in the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock valued at $5,305,000 after purchasing an additional 156 shares in the last quarter. Finally, Euro Pacific Asset Management LLC grew its position in shares of NetEase by 1.3% in the fourth quarter. Euro Pacific Asset Management LLC now owns 13,137 shares of the technology company’s stock valued at $1,172,000 after purchasing an additional 173 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Performance

NTES stock opened at $104.81 on Friday. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50. The company has a 50 day moving average price of $96.62 and a two-hundred day moving average price of $89.11. The stock has a market capitalization of $67.30 billion, a P/E ratio of 17.70, a PEG ratio of 3.45 and a beta of 0.58.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup increased their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Bank of America increased their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Benchmark dropped their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.