Dupont Capital Management Corp purchased a new position in shares of NetEase Inc (NASDAQ:NTES) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 954 shares of the technology company’s stock, valued at approximately $254,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of NetEase during the second quarter worth $47,000. Quantamental Technologies LLC acquired a new stake in NetEase in the second quarter valued at $49,000. FNY Investment Advisers LLC acquired a new stake in NetEase in the third quarter valued at $51,000. Huntington National Bank lifted its holdings in NetEase by 101.0% in the second quarter. Huntington National Bank now owns 209 shares of the technology company’s stock valued at $53,000 after acquiring an additional 105 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in NetEase in the second quarter valued at $107,000. 47.06% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on NTES. Tigress Financial began coverage on NetEase in a report on Friday, August 16th. They issued a “buy” rating for the company. ValuEngine downgraded NetEase from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub raised NetEase from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Citigroup raised their target price on NetEase from $301.00 to $326.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Goldman Sachs Group downgraded NetEase from a “buy” rating to a “neutral” rating in a report on Sunday, August 11th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $289.21.
Shares of NTES stock opened at $299.04 on Friday. NetEase Inc has a fifty-two week low of $208.63 and a fifty-two week high of $309.24. The stock has a market cap of $37.63 billion, a P/E ratio of 43.53, a P/E/G ratio of 0.85 and a beta of 0.81. The business has a fifty day simple moving average of $276.19 and a 200-day simple moving average of $262.57.
NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $1.15. NetEase had a return on equity of 18.39% and a net margin of 11.86%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Analysts forecast that NetEase Inc will post 10.81 EPS for the current year.
NetEase Company Profile
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.
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