Somerset Capital Management LLP Lowers Stake in NetEase Inc (NTES)

Somerset Capital Management LLP cut its holdings in shares of NetEase Inc (NASDAQ:NTES) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,796 shares of the technology company’s stock after selling 2,000 shares during the quarter. NetEase accounts for 6.9% of Somerset Capital Management LLP’s holdings, making the stock its 6th largest position. Somerset Capital Management LLP’s holdings in NetEase were worth $32,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of NetEase during the 1st quarter worth approximately $251,000. Manning & Napier Group LLC boosted its position in shares of NetEase by 55.2% during the 1st quarter. Manning & Napier Group LLC now owns 77,935 shares of the technology company’s stock worth $18,817,000 after acquiring an additional 27,720 shares in the last quarter. USS Investment Management Ltd boosted its position in shares of NetEase by 35.2% during the 1st quarter. USS Investment Management Ltd now owns 192,000 shares of the technology company’s stock worth $46,350,000 after acquiring an additional 50,000 shares in the last quarter. Segantii Capital Management Ltd acquired a new stake in shares of NetEase during the 1st quarter worth approximately $1,339,000. Finally, Norges Bank acquired a new stake in shares of NetEase during the 4th quarter worth approximately $214,335,000. 45.33% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on NTES. ValuEngine upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Sanford C. Bernstein assumed coverage on shares of NetEase in a research report on Monday, January 14th. They issued a “mkt perform” rating and a $240.00 target price on the stock. Zacks Investment Research lowered shares of NetEase from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. BidaskClub upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Finally, UBS Group upgraded shares of NetEase from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $271.39.

NetEase stock traded down $6.13 during mid-day trading on Monday, reaching $268.32. The company had a trading volume of 9,451 shares, compared to its average volume of 692,063. NetEase Inc has a fifty-two week low of $184.60 and a fifty-two week high of $282.74. The firm has a market capitalization of $35.47 billion, a P/E ratio of 39.27, a P/E/G ratio of 25.26 and a beta of 0.75.

NetEase (NASDAQ:NTES) last issued its earnings results on Wednesday, February 20th. The technology company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.41. NetEase had a net margin of 9.12% and a return on equity of 13.60%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter last year, the business posted $2.18 earnings per share. Research analysts expect that NetEase Inc will post 7.74 earnings per share for the current year.

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NetEase Company Profile

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

Further Reading: What is an SEC Filing?

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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