Sumitomo Mitsui Trust Holdings Inc. Raises Stake in NetEase Inc. (NTES)
Sumitomo Mitsui Trust Holdings Inc. raised its position in NetEase Inc. (NASDAQ:NTES) by 68.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 211,298 shares of the company’s stock after buying an additional 85,926 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.16% of NetEase worth $40,827,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Bank of Montreal Can purchased a new stake in shares of NetEase during the second quarter valued at approximately $36,500,000. Handelsbanken Fonder AB increased its stake in shares of NetEase by 46.2% in the second quarter. Handelsbanken Fonder AB now owns 530,619 shares of the company’s stock valued at $102,526,000 after buying an additional 167,600 shares during the period. BlackRock Japan Co. Ltd increased its stake in shares of NetEase by 13.4% in the first quarter. BlackRock Japan Co. Ltd now owns 71,514 shares of the company’s stock valued at $10,268,000 after buying an additional 8,461 shares during the period. Orbis Allan Gray Ltd purchased a new stake in shares of NetEase during the first quarter valued at approximately $1,449,733,000. Finally, Origin Asset Management LLP increased its stake in shares of NetEase by 29.8% in the first quarter. Origin Asset Management LLP now owns 486,724 shares of the company’s stock valued at $69,884,000 after buying an additional 111,833 shares during the period. Hedge funds and other institutional investors own 59.57% of the company’s stock.
NetEase Inc. (NASDAQ:NTES) traded up 1.71% on Tuesday, reaching $265.57. 878,179 shares of the company were exchanged. The firm has a market capitalization of $34.82 billion, a PE ratio of 25.43 and a beta of 1.03. The stock has a 50 day moving average of $239.45 and a 200 day moving average of $189.83. NetEase Inc. has a 12-month low of $129.60 and a 12-month high of $272.58.
NetEase (NASDAQ:NTES) last released its quarterly earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $1.06. NetEase had a net margin of 29.34% and a return on equity of 31.47%. Equities analysts anticipate that NetEase Inc. will post $12.55 EPS for the current year.
A number of equities research analysts have issued reports on the stock. Brean Capital reiterated a “buy” rating on shares of NetEase in a research report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Vetr downgraded shares of NetEase from a “buy” rating to a “hold” rating and set a $212.23 target price for the company. in a research report on Monday, August 15th. Deutsche Bank AG increased their target price on shares of NetEase from $190.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, June 24th. Finally, Macquarie increased their target price on shares of NetEase from $256.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $233.57.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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