Perpetual Ltd bought a new stake in NetEase, Inc. (NASDAQ:NTES) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 917 shares of the technology company’s stock, valued at approximately $276,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in shares of NetEase by 30.3% during the 1st quarter. Stifel Financial Corp now owns 2,408 shares of the technology company’s stock valued at $679,000 after purchasing an additional 560 shares during the last quarter. AXA acquired a new stake in NetEase during the 1st quarter worth approximately $227,000. Teachers Advisors LLC boosted its position in NetEase by 7.0% during the 1st quarter. Teachers Advisors LLC now owns 35,083 shares of the technology company’s stock worth $9,964,000 after buying an additional 2,300 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in NetEase during the 1st quarter worth approximately $242,000. Finally, Vanguard Group Inc. boosted its position in NetEase by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 436,338 shares of the technology company’s stock worth $123,919,000 after buying an additional 12,565 shares during the period. 50.36% of the stock is currently owned by hedge funds and other institutional investors.
NetEase, Inc. (NASDAQ:NTES) traded up 2.71% on Friday, hitting $283.53. 1,499,520 shares of the company traded hands. The firm’s 50 day moving average price is $273.20 and its 200 day moving average price is $285.72. NetEase, Inc. has a 1-year low of $211.11 and a 1-year high of $337.55. The firm has a market capitalization of $37.37 billion, a PE ratio of 18.38 and a beta of 0.94.
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Several equities research analysts recently commented on the stock. BidaskClub downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Deutsche Bank AG restated a “buy” rating and issued a $343.00 price target (up previously from $300.00) on shares of NetEase in a research report on Tuesday, July 25th. Credit Suisse Group restated an “outperform” rating and issued a $315.00 price target on shares of NetEase in a research report on Tuesday, October 3rd. CLSA downgraded shares of NetEase from an “outperform” rating to an “underperform” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research upgraded 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 report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $298.82.
NetEase Company Profile
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.
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