Thrivent Financial for Lutherans Sells 5,783 Shares of NetEase, Inc. $NTES

Thrivent Financial for Lutherans lessened its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,502 shares of the technology company’s stock after selling 5,783 shares during the period. Thrivent Financial for Lutherans’ holdings in NetEase were worth $10,666,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC purchased a new stake in NetEase during the 3rd quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its position in NetEase by 3,381.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after purchasing an additional 372 shares during the last quarter. Spire Wealth Management grew its position in NetEase by 31.3% during the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after purchasing an additional 104 shares during the last quarter. Strs Ohio purchased a new stake in NetEase during the 1st quarter worth approximately $63,000. Finally, Brown Brothers Harriman & Co. grew its position in NetEase by 479.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 429 shares of the technology company’s stock worth $65,000 after purchasing an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

NTES opened at $114.49 on Wednesday. The firm has a fifty day moving average price of $114.61 and a 200 day moving average price of $126.60. NetEase, Inc. has a 1 year low of $108.67 and a 1 year high of $159.55. The stock has a market cap of $72.54 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.46 and a beta of 0.72.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTES. Citigroup reaffirmed a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Nomura dropped their price objective on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Barclays dropped their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $154.00 price objective on shares of NetEase in a report on Monday, March 2nd. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Thursday, February 12th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, NetEase presently has an average rating of “Moderate Buy” and an average target price of $156.88.

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.