Asset Management One Co. Ltd. Buys 12,175 Shares of NetEase Inc (NASDAQ:NTES)

Share on StockTwits

Asset Management One Co. Ltd. boosted its holdings in shares of NetEase Inc (NASDAQ:NTES) by 44.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,271 shares of the technology company’s stock after purchasing an additional 12,175 shares during the period. Asset Management One Co. Ltd.’s holdings in NetEase were worth $10,045,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. USS Investment Management Ltd lifted its holdings in NetEase by 35.2% during the 1st quarter. USS Investment Management Ltd now owns 192,000 shares of the technology company’s stock valued at $46,350,000 after purchasing an additional 50,000 shares during the last quarter. Comerica Bank grew its position in shares of NetEase by 9.3% during the 1st quarter. Comerica Bank now owns 8,404 shares of the technology company’s stock worth $2,294,000 after buying an additional 715 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in NetEase by 8.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 1,137 shares of the technology company’s stock valued at $275,000 after purchasing an additional 84 shares during the period. Raymond James & Associates lifted its stake in NetEase by 10.1% in the first quarter. Raymond James & Associates now owns 16,485 shares of the technology company’s stock valued at $3,980,000 after buying an additional 1,508 shares in the last quarter. Finally, TD Asset Management Inc. lifted its stake in NetEase by 4.1% in the first quarter. TD Asset Management Inc. now owns 2,264 shares of the technology company’s stock valued at $547,000 after buying an additional 90 shares in the last quarter. 46.84% of the stock is owned by institutional investors and hedge funds.

Shares of NTES stock traded up $9.83 during trading hours on Friday, hitting $268.79. 762,885 shares of the company were exchanged, compared to its average volume of 653,089. The firm has a market cap of $32.81 billion, a P/E ratio of 39.13, a P/E/G ratio of 0.74 and a beta of 0.82. NetEase Inc has a fifty-two week low of $188.05 and a fifty-two week high of $289.68. The company has a 50 day simple moving average of $264.14 and a two-hundred day simple moving average of $259.16.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.29 by $1.15. NetEase had a net margin of 11.86% and a return on equity of 18.39%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.73 billion. On average, analysts anticipate that NetEase Inc will post 10.81 earnings per share for the current fiscal year.

A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of NetEase from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a research report on Thursday, August 8th. Nomura upped their price objective on shares of NetEase from $288.00 to $317.00 and gave the company a “buy” rating in a report on Monday, September 9th. ValuEngine downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group cut shares of NetEase from a “buy” rating to a “neutral” rating in a research report on Sunday, August 11th. Finally, BidaskClub raised shares of NetEase from a “strong sell” rating to a “sell” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. NetEase presently has an average rating of “Buy” and an average price target of $287.21.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. 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.

Read More: Backdoor Roth IRA Conversion and Strategy

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.