Flossbach Von Storch SE Purchases Shares of 8,500 NetEase, Inc. $NTES

Flossbach Von Storch SE purchased a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the second quarter, according to its most recent filing with the SEC. The firm purchased 8,500 shares of the technology company’s stock, valued at approximately $1,089,000.

Several other hedge funds have also recently made changes to their positions in NTES. Brookmont Capital Management lifted its stake in shares of NetEase by 137.1% in the 2nd quarter. Brookmont Capital Management now owns 25,514 shares of the technology company’s stock valued at $3,269,000 after purchasing an additional 14,754 shares during the period. Signaturefd LLC boosted its position in shares of NetEase by 3.4% during the 2nd quarter. Signaturefd LLC now owns 4,291 shares of the technology company’s stock valued at $550,000 after purchasing an additional 140 shares in the last quarter. ABN Amro Investment Solutions grew its stake in NetEase by 12.4% during the second quarter. ABN Amro Investment Solutions now owns 30,878 shares of the technology company’s stock worth $3,957,000 after purchasing an additional 3,400 shares during the period. SOA Wealth Advisors LLC. acquired a new stake in NetEase during the second quarter worth approximately $614,000. Finally, Mission Wealth Management LP increased its holdings in NetEase by 4.4% in the second quarter. Mission Wealth Management LP now owns 2,631 shares of the technology company’s stock worth $337,000 after purchasing an additional 110 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NTES shares. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Benchmark reiterated a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Weiss Ratings downgraded shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Morgan Stanley reissued an “overweight” rating and set a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group set a $169.00 price target on shares of NetEase in a report on Wednesday, July 1st. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.38.

NetEase Stock Performance

NTES stock opened at $127.25 on Thursday. The stock’s 50 day simple moving average is $126.85 and its 200 day simple moving average is $120.57. The company has a market cap of $81.47 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.62 and a beta of 0.73. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55.

Insider Activity at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the transaction, the general counsel directly owned 12,223 shares of the company’s stock, valued at $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 54.70% of the stock is currently owned by corporate insiders.

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.