Asset Management One Co. Ltd. increased its stake in NetEase Inc (NASDAQ:NTES) by 44.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,271 shares of the technology company’s stock after acquiring an additional 12,175 shares during the period. Asset Management One Co. Ltd.’s holdings in NetEase were worth $10,045,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of NTES. Wetherby Asset Management Inc. lifted its holdings in shares of NetEase by 2.9% during the 1st quarter. Wetherby Asset Management Inc. now owns 1,764 shares of the technology company’s stock worth $426,000 after acquiring an additional 50 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in NetEase by 8.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 1,137 shares of the technology company’s stock valued at $275,000 after purchasing an additional 84 shares during the period. TD Asset Management Inc. grew its holdings in NetEase by 4.1% during the first quarter. TD Asset Management Inc. now owns 2,264 shares of the technology company’s stock valued at $547,000 after purchasing an additional 90 shares during the period. Huntington National Bank lifted its stake in NetEase by 101.0% in the second quarter. Huntington National Bank now owns 209 shares of the technology company’s stock valued at $53,000 after buying an additional 105 shares in the last quarter. Finally, Hartwell J M Limited Partnership lifted its stake in NetEase by 5.9% in the second quarter. Hartwell J M Limited Partnership now owns 3,250 shares of the technology company’s stock valued at $831,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 46.84% of the company’s stock.
A number of analysts have recently commented on the stock. Jefferies Financial Group started coverage on shares of NetEase in a research report on Monday, August 5th. They issued a “buy” rating and a $274.60 price objective on the stock. Citigroup increased their target price on shares of NetEase from $301.00 to $326.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Nomura raised their price objective on shares of NetEase from $288.00 to $317.00 and gave the company a “buy” rating in a report on Monday, September 9th. Goldman Sachs Group lowered shares of NetEase from a “buy” rating to a “neutral” rating in a report on Sunday, August 11th. Finally, BidaskClub upgraded shares of NetEase from a “strong sell” rating to a “sell” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. NetEase presently has an average rating of “Buy” and an average price target of $287.21.
NASDAQ:NTES traded up $9.83 on Friday, reaching $268.79. 762,885 shares of the stock traded hands, compared to its average volume of 653,089. The firm has a market capitalization of $32.81 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.82. NetEase Inc has a 1-year low of $188.05 and a 1-year high of $289.68. The company’s 50 day moving average is $264.14 and its 200-day moving average is $259.16.
NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.29 by $1.15. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.73 billion. NetEase had a net margin of 11.86% and a return on equity of 18.39%. On average, sell-side analysts predict that NetEase Inc will post 10.81 earnings per share for the current fiscal year.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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