Zurcher Kantonalbank Zurich Cantonalbank grew its position in NetEase Inc (NASDAQ:NTES) by 12.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,182 shares of the technology company’s stock after buying an additional 2,600 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NetEase were worth $5,692,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Lavaca Capital LLC bought a new position in NetEase during the fourth quarter worth about $62,000. Tower Research Capital LLC TRC bought a new position in shares of NetEase in the second quarter valued at approximately $108,000. Quadrant Capital Group LLC boosted its position in shares of NetEase by 775.9% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $116,000 after acquiring an additional 450 shares during the period. Cornerstone Wealth Management LLC boosted its position in shares of NetEase by 286.3% in the third quarter. Cornerstone Wealth Management LLC now owns 41,639 shares of the technology company’s stock valued at $151,000 after acquiring an additional 30,861 shares during the period. Finally, Guinness Asset Management Ltd boosted its position in shares of NetEase by 59.1% in the third quarter. Guinness Asset Management Ltd now owns 861 shares of the technology company’s stock valued at $196,000 after acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 45.33% of the company’s stock.
Several equities research analysts have issued reports on NTES shares. ValuEngine lowered shares of NetEase from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Morgan Stanley upgraded shares of NetEase from an “equal weight” rating to an “overweight” rating and set a $300.00 target price for the company in a research report on Thursday, December 6th. Benchmark dropped their target price on shares of NetEase from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, November 15th. Barclays set a $250.00 price target on shares of NetEase and gave the stock a “hold” rating in a research note on Thursday, October 18th. Finally, Deutsche Bank set a $319.00 price target on shares of NetEase and gave the stock a “buy” rating in a research note on Friday, January 11th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. NetEase presently has a consensus rating of “Buy” and a consensus target price of $272.39.
Shares of NetEase stock opened at $240.53 on Thursday. The stock has a market capitalization of $31.95 billion, a P/E ratio of 19.38, a PEG ratio of 1.32 and a beta of 0.74. NetEase Inc has a 1 year low of $184.60 and a 1 year high of $329.00.
NetEase (NASDAQ:NTES) last issued its earnings results on Wednesday, November 14th. The technology company reported $1.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.30). NetEase had a return on equity of 12.66% and a net margin of 9.22%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the firm posted $3.43 EPS. NetEase’s quarterly revenue was up 30.9% compared to the same quarter last year. On average, analysts expect that NetEase Inc will post 6.78 earnings per share for the current year.
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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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