ING Groep NV purchased a new position in shares of NetEase Inc (NASDAQ:NTES) in the third quarter, HoldingsChannel reports. The institutional investor purchased 9,698 shares of the technology company’s stock, valued at approximately $2,214,000.

Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in NetEase in the 2nd quarter worth $108,000. Northwestern Mutual Wealth Management Co. lifted its holdings in NetEase by 96.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 462 shares of the technology company’s stock worth $117,000 after buying an additional 227 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in NetEase by 286.3% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 41,639 shares of the technology company’s stock worth $151,000 after buying an additional 30,861 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in NetEase in the 2nd quarter worth $167,000. Finally, Guinness Asset Management Ltd lifted its holdings in NetEase by 59.1% in the 3rd quarter. Guinness Asset Management Ltd now owns 861 shares of the technology company’s stock worth $196,000 after buying an additional 320 shares in the last quarter. 45.30% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on NTES. Zacks Investment Research lowered shares of NetEase from a “hold” rating to a “sell” rating in a report on Friday. Benchmark reiterated a “buy” rating and issued a $295.00 price objective (down previously from $320.00) on shares of NetEase in a report on Thursday. ValuEngine upgraded shares of NetEase from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. BidaskClub upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 7th. Finally, TheStreet upgraded shares of NetEase from a “c+” rating to a “b” rating in a report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $308.46.

Shares of NetEase stock opened at $231.39 on Friday. The stock has a market capitalization of $28.13 billion, a PE ratio of 18.65, a P/E/G ratio of 1.39 and a beta of 0.96. NetEase Inc has a 1 year low of $184.60 and a 1 year high of $377.64.

NetEase (NASDAQ:NTES) last issued its earnings results on Wednesday, November 14th. The technology company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.30). The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.42 billion. NetEase had a net margin of 11.49% and a return on equity of 14.57%. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.43 EPS. Sell-side analysts forecast that NetEase Inc will post 7.34 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This news story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2018/11/16/ing-groep-nv-purchases-shares-of-9698-netease-inc-ntes.html.

NetEase Company Profile

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.

Further Reading: What is a Reverse Stock Split?

Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase Inc (NASDAQ:NTES).

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.