NetEase, Inc. (NASDAQ:NTES) Rating Lowered to Hold at BidaskClub

NetEase, Inc. (NASDAQ:NTES) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday, August 4th.

NTES has been the topic of several other research reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $343.00 target price (up previously from $300.00) on shares of NetEase in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating and set a $346.00 target price on the stock in a research note on Wednesday, July 12th. Standpoint Research lowered shares of NetEase from a “buy” rating to a “reduce” rating and raised their target price for the company from $345.00 to $360.00 in a research note on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $330.00 target price on shares of NetEase in a research note on Friday, June 16th. Finally, Vetr lowered shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $318.49 target price on the stock. in a research note on Tuesday, May 16th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $301.90.

NetEase (NASDAQ:NTES) traded down 1.19% during mid-day trading on Friday, hitting $270.34. 1,128,293 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $300.48 and a 200 day moving average of $288.73. NetEase has a 52 week low of $206.50 and a 52 week high of $337.55.

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Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of NetEase by 1,571.4% in the first quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock valued at $1,431,127,000 after buying an additional 4,737,686 shares during the period. Artisan Partners Limited Partnership acquired a new stake in NetEase during the second quarter worth about $287,603,000. FMR LLC increased its stake in NetEase by 63.3% in the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock worth $652,551,000 after buying an additional 841,692 shares during the period. Credit Agricole S A increased its stake in NetEase by 19.2% in the first quarter. Credit Agricole S A now owns 4,395,661 shares of the technology company’s stock worth $1,248,368,000 after buying an additional 709,148 shares during the period. Finally, Fisher Asset Management LLC increased its stake in NetEase by 142.3% in the second quarter. Fisher Asset Management LLC now owns 839,739 shares of the technology company’s stock worth $252,451,000 after buying an additional 493,209 shares during the period. Hedge funds and other institutional investors own 55.88% of the company’s stock.

About NetEase

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.

Analyst Recommendations for NetEase (NASDAQ:NTES)

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