Steinberg Global Asset Management purchased a new position in shares of NetEase Inc (NASDAQ:NTES) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,618 shares of the technology company’s stock, valued at approximately $1,014,000.
A number of other institutional investors have also recently added to or reduced their stakes in NTES. Bank of New York Mellon Corp raised its position in shares of NetEase by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 142,041 shares of the technology company’s stock valued at $32,420,000 after purchasing an additional 968 shares during the period. The Manufacturers Life Insurance Company increased its holdings in NetEase by 230.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 70,465 shares of the technology company’s stock worth $16,083,000 after acquiring an additional 49,161 shares during the period. Pacer Advisors Inc. increased its holdings in NetEase by 18.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,962 shares of the technology company’s stock worth $676,000 after acquiring an additional 464 shares during the period. Putnam Investments LLC increased its holdings in NetEase by 5.8% during the 3rd quarter. Putnam Investments LLC now owns 80,786 shares of the technology company’s stock worth $18,439,000 after acquiring an additional 4,449 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in NetEase by 2.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 15,425 shares of the technology company’s stock worth $3,521,000 after acquiring an additional 324 shares during the period. Institutional investors and hedge funds own 45.37% of the company’s stock.
NTES stock opened at $270.54 on Tuesday. NetEase Inc has a one year low of $184.60 and a one year high of $282.74. The company has a market capitalization of $35.53 billion, a price-to-earnings ratio of 39.38, a P/E/G ratio of 25.34 and a beta of 0.75.
NetEase (NASDAQ:NTES) last released its quarterly earnings results on Wednesday, February 20th. The technology company reported $1.92 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.41. NetEase had a net margin of 9.12% and a return on equity of 13.60%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the previous year, the company earned $2.18 EPS. As a group, sell-side analysts expect that NetEase Inc will post 7.74 earnings per share for the current year.
A number of analysts recently weighed in on the stock. BidaskClub raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. ValuEngine raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. Zacks Investment Research lowered shares of NetEase from a “hold” rating to a “sell” rating in a report on Wednesday, March 13th. Jefferies Financial Group lowered shares of NetEase from a “buy” rating to a “hold” rating and set a $245.00 target price on the stock. in a report on Thursday, February 21st. Finally, Sanford C. Bernstein assumed coverage on shares of NetEase in a report on Monday, January 14th. They set a “mkt perform” rating and a $240.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $271.39.
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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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