Aurora Investment Counsel purchased a new position in NetEase Inc (NASDAQ:NTES) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,028 shares of the technology company’s stock, valued at approximately $3,805,000. NetEase comprises 1.9% of Aurora Investment Counsel’s holdings, making the stock its largest holding.
Other institutional investors also recently bought and sold shares of the company. AXA increased its stake in NetEase by 5.9% in the 3rd quarter. AXA now owns 32,431 shares of the technology company’s stock worth $8,555,000 after buying an additional 1,820 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of NetEase during the third quarter valued at approximately $2,092,000. Cetera Advisor Networks LLC raised its stake in shares of NetEase by 18.0% during the third quarter. Cetera Advisor Networks LLC now owns 1,556 shares of the technology company’s stock valued at $411,000 after acquiring an additional 237 shares in the last quarter. TT International purchased a new position in NetEase during the third quarter valued at approximately $17,715,000. Finally, Janney Montgomery Scott LLC increased its holdings in NetEase by 2.5% during the third quarter. Janney Montgomery Scott LLC now owns 7,021 shares of the technology company’s stock valued at $1,852,000 after buying an additional 170 shares during the period. Institutional investors own 50.42% of the company’s stock.
NetEase Inc (NASDAQ:NTES) traded down $4.15 during mid-day trading on Thursday, reaching $334.90. 915,000 shares of the company’s stock traded hands, compared to its average volume of 1,324,229. The company has a market capitalization of $43,660.00, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94. NetEase Inc has a 12-month low of $232.14 and a 12-month high of $377.64.
NetEase announced that its board has initiated a share repurchase program on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have weighed in on the stock. UBS Group downgraded shares of NetEase from a “buy” rating to a “neutral” rating in a research report on Monday, October 30th. Nomura raised shares of NetEase from a “neutral” rating to a “buy” rating and upped their price objective for the company from $297.00 to $428.00 in a research note on Friday, November 17th. Zacks Investment Research raised shares of NetEase from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Vetr cut shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $363.82 price target for the company. in a research note on Monday, December 11th. Finally, Deutsche Bank set a $325.00 price target on shares of NetEase and gave the company a “buy” rating in a research note on Friday, October 6th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $330.56.
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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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