Morse Asset Management Inc bought a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 5,117 shares of the technology company’s stock, valued at approximately $1,538,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. raised its position in NetEase by 51.0% in the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock worth $104,000 after buying an additional 124 shares during the last quarter. IFP Advisors Inc raised its position in NetEase by 21.4% in the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after buying an additional 69 shares during the last quarter. Huntington National Bank raised its position in NetEase by 84.7% in the second quarter. Huntington National Bank now owns 700 shares of the technology company’s stock worth $210,000 after buying an additional 321 shares during the last quarter. Howe & Rusling Inc. raised its position in NetEase by 7.2% in the first quarter. Howe & Rusling Inc. now owns 715 shares of the technology company’s stock worth $203,000 after buying an additional 48 shares during the last quarter. Finally, Private Advisory Group LLC purchased a new position in NetEase during the first quarter worth about $205,000. 55.53% of the stock is owned by hedge funds and other institutional investors.

Shares of NetEase, Inc. (NTES) opened at 309.22 on Wednesday. The company has a 50 day moving average of $308.65 and a 200-day moving average of $285.85. The company has a market capitalization of $40.67 billion, a P/E ratio of 21.02 and a beta of 0.92. NetEase, Inc. has a 12-month low of $197.65 and a 12-month high of $337.55.

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A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of NetEase from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered shares of NetEase from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Vetr lowered shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $318.49 target price for the company. in a research note on Monday, May 22nd. Instinet lowered shares of NetEase from a “buy” rating to a “neutral” rating and reduced their target price for the company from $307.00 to $297.00 in a research note on Thursday, May 11th. Finally, Standpoint Research lowered shares of NetEase from a “buy” rating to a “reduce” rating and upped their price target for the stock from $345.00 to $360.00 in a research note on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. NetEase presently has a consensus rating of “Buy” and an average price target of $298.02.

NetEase Company Profile

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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