Somerset Capital Management LLP Takes $18.54 Million Position in NetEase, Inc. (NTES)

Somerset Capital Management LLP bought a new stake in NetEase, Inc. (NASDAQ:NTES) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 70,282 shares of the technology company’s stock, valued at approximately $18,541,000. NetEase makes up approximately 4.6% of Somerset Capital Management LLP’s holdings, making the stock its 7th largest holding. Somerset Capital Management LLP owned approximately 0.05% of NetEase at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Artisan Partners Limited Partnership purchased a new position in shares of NetEase in the 2nd quarter worth approximately $287,603,000. FMR LLC lifted 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 valued at $652,551,000 after purchasing an additional 841,692 shares during the last quarter. Fisher Asset Management LLC lifted 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 valued at $252,451,000 after purchasing an additional 493,209 shares during the last quarter. Renaissance Technologies LLC lifted its stake in NetEase by 20.1% in the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock valued at $819,517,000 after purchasing an additional 456,300 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in NetEase by 17.9% in the second quarter. Orbis Allan Gray Ltd now owns 2,459,381 shares of the technology company’s stock valued at $739,364,000 after purchasing an additional 372,510 shares during the last quarter. 50.45% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on NTES. BidaskClub raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Friday, July 14th. Deutsche Bank AG reissued a “buy” rating and set a $343.00 target price (up previously from $300.00) on shares of NetEase in a report on Tuesday, July 25th. Zacks Investment Research cut shares of NetEase from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. CLSA cut shares of NetEase from an “outperform” rating to an “underperform” rating in a report on Thursday, August 10th. Finally, ValuEngine cut shares of NetEase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $302.81.

Shares of NetEase, Inc. (NASDAQ:NTES) traded down $9.99 on Friday, hitting $302.87. 1,956,400 shares of the company traded hands, compared to its average volume of 1,248,941. The company has a market capitalization of $41,329.12, a P/E ratio of 20.49, a P/E/G ratio of 1.32 and a beta of 0.91. NetEase, Inc. has a 12 month low of $211.11 and a 12 month high of $337.55.

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NetEase 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.

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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