NetEase Inc (NTES) Short Interest Down 29.3% in November

NetEase Inc (NASDAQ:NTES) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 3,093,609 shares, a decrease of 29.3% from the November 15th total of 4,375,388 shares. Based on an average daily volume of 2,379,521 shares, the days-to-cover ratio is presently 1.3 days.

Several large investors have recently made changes to their positions in NTES. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of NetEase during the 3rd quarter valued at $2,092,000. Artisan Partners Limited Partnership acquired a new stake in shares of NetEase during the 2nd quarter valued at $287,603,000. FMR LLC lifted its position in shares of NetEase by 63.3% during the 2nd quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after acquiring an additional 841,692 shares during the last quarter. Capital International Investors acquired a new stake in shares of NetEase during the 3rd quarter valued at $180,472,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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 in the last quarter. Institutional investors own 50.42% of the company’s stock.

Several equities analysts have recently commented on the company. ValuEngine lowered NetEase from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub lowered NetEase from a “hold” rating to a “sell” rating in a report on Thursday. Vetr raised NetEase from a “hold” rating to a “buy” rating and set a $359.78 price objective for the company in a report on Tuesday, November 21st. Deutsche Bank set a $380.00 price objective on NetEase and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, Barclays increased their price objective on NetEase from $260.00 to $320.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 21st. Five analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $330.56.

Shares of NetEase (NASDAQ:NTES) traded down $7.50 during trading hours on Thursday, hitting $327.40. The stock had a trading volume of 1,790,000 shares, compared to its average volume of 1,370,000. NetEase has a one year low of $232.14 and a one year high of $377.64. The firm has a market cap of $43,250.00, a P/E ratio of 21.55, a PEG ratio of 1.61 and a beta of 0.94.

NetEase announced that its Board of Directors has approved a share repurchase plan on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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About NetEase

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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