Assenagon Asset Management S.A. bought a new position in NetEase Inc (NASDAQ:NTES) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,600 shares of the technology company’s stock, valued at approximately $1,278,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in NetEase during the 2nd quarter valued at approximately $108,000. Northwestern Mutual Wealth Management Co. boosted its position in NetEase by 96.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 462 shares of the technology company’s stock valued at $117,000 after purchasing an additional 227 shares during the period. Cornerstone Wealth Management LLC boosted its position in NetEase by 286.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 41,639 shares of the technology company’s stock valued at $151,000 after purchasing an additional 30,861 shares during the period. Flagship Harbor Advisors LLC acquired a new position in NetEase during the 2nd quarter valued at approximately $167,000. Finally, Guinness Asset Management Ltd boosted its position in NetEase by 59.1% during the 3rd quarter. Guinness Asset Management Ltd now owns 861 shares of the technology company’s stock valued at $196,000 after purchasing an additional 320 shares during the period. Institutional investors own 45.49% of the company’s stock.
Shares of NetEase stock opened at $221.91 on Friday. The firm has a market cap of $30.87 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96. NetEase Inc has a 1-year low of $184.60 and a 1-year high of $377.64.
NetEase (NASDAQ:NTES) last announced its earnings results on Wednesday, August 8th. The technology company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.82. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.61 billion. NetEase had a return on equity of 14.57% and a net margin of 11.49%. On average, equities research analysts expect that NetEase Inc will post 7.34 earnings per share for the current fiscal year.
NTES has been the subject of a number of analyst reports. Nomura reduced their price objective on NetEase from $352.00 to $265.00 in a research report on Monday, October 29th. TheStreet upgraded NetEase from a “c+” rating to a “b” rating in a research report on Friday, August 10th. BidaskClub upgraded NetEase from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Jefferies Financial Group upgraded NetEase from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Finally, ValuEngine upgraded NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $311.92.
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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.
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