Daiwa SB Investments Ltd. grew its holdings in NetEase Inc (NASDAQ:NTES) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,100 shares of the technology company’s stock after acquiring an additional 800 shares during the period. NetEase comprises approximately 0.8% of Daiwa SB Investments Ltd.’s holdings, making the stock its 28th biggest holding. Daiwa SB Investments Ltd.’s holdings in NetEase were worth $3,140,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of NetEase by 117.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock valued at $131,000 after acquiring an additional 267 shares during the period. PNC Financial Services Group Inc. increased its position in shares of NetEase by 22.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after purchasing an additional 98 shares during the last quarter. Mariner Wealth Advisors LLC acquired a new position in shares of NetEase in the 2nd quarter valued at about $203,000. Yorktown Management & Research Co Inc acquired a new position in shares of NetEase in the 2nd quarter valued at about $210,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of NetEase in the 2nd quarter valued at about $218,000. 48.90% of the stock is currently owned by institutional investors and hedge funds.
NTES has been the subject of a number of analyst reports. Deutsche Bank set a $334.00 target price on shares of NetEase and gave the company a “buy” rating in a research note on Thursday, November 16th. Benchmark dropped their target price on shares of NetEase from $360.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, November 16th. Citigroup restated a “buy” rating and set a $351.00 price target on shares of NetEase in a report on Thursday, November 16th. Vetr raised shares of NetEase from a “hold” rating to a “buy” rating and set a $323.68 price objective on the stock in a research report on Monday, November 13th. Finally, ValuEngine raised shares of NetEase from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $348.07.
NetEase Inc (NASDAQ:NTES) traded up $1.34 during midday trading on Friday, hitting $317.40. 1,180,000 shares of the stock were exchanged, compared to its average volume of 1,310,000. NetEase Inc has a 12 month low of $252.54 and a 12 month high of $377.64. The firm has a market capitalization of $42,110.00, a P/E ratio of 20.23, a PEG ratio of 1.61 and a beta of 0.75.
NetEase (NASDAQ:NTES) last released its quarterly earnings data on Wednesday, November 15th. The technology company reported $2.86 EPS for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.20. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.84 billion. NetEase had a net margin of 25.34% and a return on equity of 31.84%. analysts anticipate that NetEase Inc will post 12.55 EPS for the current year.
NetEase announced that its board has authorized a stock buyback program on Wednesday, November 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
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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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