ING Groep NV Purchases Shares of 9,698 NetEase Inc (NTES)
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.
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.
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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.
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