State Street Corp Sells 114,434 Shares of NetEase, Inc. (NTES)
State Street Corp lessened its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,597,834 shares of the technology company’s stock after selling 114,434 shares during the period. State Street Corp’s holdings in NetEase were worth $480,350,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of NetEase by 1,571.4% during the 1st quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock worth $1,431,127,000 after acquiring an additional 4,737,686 shares during the period. Renaissance Technologies LLC raised its holdings in shares of NetEase by 20.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock worth $819,517,000 after acquiring an additional 456,300 shares during the period. Orbis Allan Gray Ltd raised its holdings in shares of NetEase by 17.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,459,381 shares of the technology company’s stock worth $739,364,000 after acquiring an additional 372,510 shares during the period. FMR LLC raised its holdings in shares of NetEase by 63.3% during the 2nd quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock worth $652,551,000 after acquiring an additional 841,692 shares during the period. Finally, Boston Partners raised its holdings in shares of NetEase by 29.3% during the 2nd quarter. Boston Partners now owns 1,210,207 shares of the technology company’s stock worth $363,824,000 after acquiring an additional 273,924 shares during the period. Institutional investors and hedge funds own 50.38% of the company’s stock.
Shares of NetEase, Inc. (NASDAQ NTES) opened at 273.1884 on Friday. The firm’s 50-day moving average is $271.19 and its 200-day moving average is $285.91. NetEase, Inc. has a 52 week low of $211.11 and a 52 week high of $337.55. The stock has a market capitalization of $36.01 billion, a price-to-earnings ratio of 17.7073 and a beta of 0.94.
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Several research analysts have recently commented on NTES shares. BidaskClub lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $330.00 price objective on shares of NetEase in a report on Friday, June 16th. Zacks Investment Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating and set a $346.00 price objective on the stock in a report on Wednesday, July 12th. Deutsche Bank AG restated a “buy” rating and issued a $343.00 price objective (up from $300.00) on shares of NetEase in a report on Tuesday, July 25th. Finally, CLSA lowered shares of NetEase from an “outperform” rating to an “underperform” rating in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. NetEase currently has an average rating of “Hold” and an average price target of $298.70.
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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