Granite Point Capital Management L.P. lifted its position in shares of NetEase Inc (NASDAQ:NTES) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the technology company’s stock after acquiring an additional 1,000 shares during the quarter. Granite Point Capital Management L.P.’s holdings in NetEase were worth $706,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of NetEase by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,562,086 shares of the technology company’s stock worth $584,796,000 after purchasing an additional 43,455 shares during the last quarter. Vanguard Group Inc raised its holdings in NetEase by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock valued at $584,796,000 after acquiring an additional 43,455 shares during the last quarter. Comgest Global Investors S.A.S. raised its holdings in NetEase by 0.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 2,244,860 shares of the technology company’s stock valued at $512,389,000 after acquiring an additional 12,700 shares during the last quarter. Steadfast Capital Management LP acquired a new position in NetEase in the 3rd quarter valued at $276,011,000. Finally, Overlook Holdings Ltd raised its holdings in NetEase by 7.8% in the 4th quarter. Overlook Holdings Ltd now owns 925,560 shares of the technology company’s stock valued at $217,849,000 after acquiring an additional 66,622 shares during the last quarter. 45.33% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on NTES shares. Nomura cut their price target on NetEase from $352.00 to $265.00 in a report on Monday, October 29th. Benchmark cut their price target on NetEase from $320.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, November 15th. ValuEngine upgraded NetEase from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $254.00 price target on shares of NetEase in a report on Tuesday, November 20th. Finally, UBS Group upgraded NetEase from a “neutral” rating to a “buy” rating in a report on Wednesday, December 19th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. NetEase currently has an average rating of “Buy” and an average target price of $272.39.
NTES stock opened at $239.88 on Monday. The firm has a market cap of $31.50 billion, a PE ratio of 19.33, a PEG ratio of 1.32 and a beta of 0.74. NetEase Inc has a 52 week low of $184.60 and a 52 week high of $329.00.
NetEase (NASDAQ:NTES) last released its quarterly earnings data on Wednesday, November 14th. The technology company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.30). The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.42 billion. NetEase had a return on equity of 12.66% and a net margin of 9.22%. The company’s quarterly revenue was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.43 earnings per share. Research analysts predict that NetEase Inc will post 6.78 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.
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