KAMES CAPITAL plc cut its holdings in NetEase Inc (NASDAQ:NTES) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,077 shares of the technology company’s stock after selling 6,600 shares during the quarter. KAMES CAPITAL plc’s holdings in NetEase were worth $19,693,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of NTES. Wells Fargo & Company MN boosted its stake in shares of NetEase by 0.4% during the second quarter. Wells Fargo & Company MN now owns 197,950 shares of the technology company’s stock valued at $59,509,000 after purchasing an additional 777 shares during the period. Financial Counselors Inc. boosted its stake in shares of NetEase by 1.7% during the second quarter. Financial Counselors Inc. now owns 1,211 shares of the technology company’s stock valued at $364,000 after purchasing an additional 20 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of NetEase by 12.4% during the second quarter. Ameriprise Financial Inc. now owns 298,476 shares of the technology company’s stock valued at $89,724,000 after purchasing an additional 32,941 shares during the period. Standard Life Investments LTD boosted its stake in shares of NetEase by 14,556.7% during the second quarter. Standard Life Investments LTD now owns 25,063 shares of the technology company’s stock valued at $7,534,000 after purchasing an additional 24,892 shares during the period. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in shares of NetEase by 112.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 39,710 shares of the technology company’s stock valued at $11,938,000 after purchasing an additional 21,010 shares during the period. 48.90% of the stock is owned by hedge funds and other institutional investors.
NTES has been the subject of a number of recent 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 decreased their price objective on NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, November 16th. Citigroup restated a “buy” rating and issued a $351.00 price objective on shares of NetEase in a report on Thursday, November 16th. Vetr upgraded NetEase from a “hold” rating to a “buy” rating and set a $323.68 price objective for the company in a report on Monday, November 13th. Finally, ValuEngine upgraded NetEase from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Three equities 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. NetEase has a consensus rating of “Hold” and an average target price of $348.07.
Shares of NetEase Inc (NASDAQ:NTES) traded up $1.34 during trading on Friday, reaching $317.40. 1,184,654 shares of the company’s stock were exchanged, compared to its average volume of 1,310,000. NetEase Inc has a fifty-two week low of $252.54 and a fifty-two week high of $377.64. The company 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 issued its quarterly earnings results on Wednesday, November 15th. The technology company reported $2.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.20. NetEase had a return on equity of 31.84% and a net margin of 25.34%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.84 billion. sell-side analysts forecast that NetEase Inc will post 12.55 EPS for the current fiscal year.
NetEase announced that its Board of Directors has authorized a share buyback program on Wednesday, November 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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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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