True Light Capital Pte. Ltd. Acquires Shares of 27,202 NetEase, Inc. $NTES

True Light Capital Pte. Ltd. acquired a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 27,202 shares of the technology company’s stock, valued at approximately $3,744,000. NetEase makes up about 1.7% of True Light Capital Pte. Ltd.’s holdings, making the stock its 7th biggest position.

A number of other hedge funds also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NetEase by 68,860.6% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock valued at $1,299,684,000 after buying an additional 8,538,717 shares in the last quarter. Fisher Asset Management LLC lifted its stake in NetEase by 4.7% during the third quarter. Fisher Asset Management LLC now owns 1,133,052 shares of the technology company’s stock valued at $172,213,000 after buying an additional 50,861 shares in the last quarter. Man Group plc lifted its stake in NetEase by 7.3% during the third quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock valued at $160,368,000 after buying an additional 71,966 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NetEase by 15.4% during the third quarter. Dimensional Fund Advisors LP now owns 841,623 shares of the technology company’s stock valued at $127,823,000 after buying an additional 112,001 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in NetEase by 7.3% during the third quarter. American Century Companies Inc. now owns 803,379 shares of the technology company’s stock valued at $122,106,000 after buying an additional 54,929 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTES has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating and issued a $154.00 target price on shares of NetEase in a report on Monday, March 2nd. Nomura dropped their target price on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Finally, Citigroup reiterated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.88.

NetEase Stock Performance

NASDAQ:NTES opened at $113.61 on Tuesday. The stock’s 50 day moving average price is $114.68 and its 200 day moving average price is $126.81. NetEase, Inc. has a 52 week low of $108.67 and a 52 week high of $159.55. The company has a market capitalization of $71.98 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.46 and a beta of 0.72.

NetEase 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.