Perpetual Ltd bought a new position in NetEase, Inc. (NASDAQ:NTES) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 917 shares of the technology company’s stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OLD National Bancorp IN grew its holdings in shares of NetEase by 0.4% during the second quarter. OLD National Bancorp IN now owns 930 shares of the technology company’s stock valued at $280,000 after buying an additional 4 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of NetEase by 1.3% during the second quarter. Ameritas Investment Partners Inc. now owns 1,366 shares of the technology company’s stock valued at $411,000 after buying an additional 17 shares in the last quarter. Financial Counselors Inc. grew its holdings in shares of NetEase by 1.7% during the second quarter. Financial Counselors Inc. now owns 1,211 shares of the technology company’s stock valued at $364,000 after buying an additional 20 shares in the last quarter. HPM Partners LLC grew its holdings in shares of NetEase by 2.3% during the second quarter. HPM Partners LLC now owns 1,334 shares of the technology company’s stock valued at $401,000 after buying an additional 30 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of NetEase by 1.3% during the second quarter. US Bancorp DE now owns 4,041 shares of the technology company’s stock valued at $1,215,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 50.35% of the company’s stock.

NetEase, Inc. (NTES) traded down 0.81% during mid-day trading on Thursday, reaching $275.49. The company had a trading volume of 313,771 shares. The stock has a market cap of $36.31 billion, a PE ratio of 17.86 and a beta of 0.94. NetEase, Inc. has a 12 month low of $211.11 and a 12 month high of $337.55. The firm’s 50-day moving average price is $272.62 and its 200-day moving average price is $285.75.

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A number of brokerages have recently weighed in on NTES. BidaskClub downgraded NetEase from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Deutsche Bank AG reiterated a “buy” rating and set a $343.00 price target (up previously from $300.00) on shares of NetEase in a report on Tuesday, July 25th. Credit Suisse Group reiterated an “outperform” rating and set a $315.00 price target on shares of NetEase in a report on Tuesday, October 3rd. CLSA downgraded NetEase from an “outperform” rating to an “underperform” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded NetEase from a “hold” rating to a “strong-buy” rating and set a $346.00 price target on the stock in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NetEase presently has an average rating of “Hold” and an average price target of $298.82.

About NetEase

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.

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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