Traders purchased shares of NetEase Inc (NASDAQ:NTES) on weakness during trading hours on Tuesday. $100.52 million flowed into the stock on the tick-up and $79.21 million flowed out of the stock on the tick-down, for a money net flow of $21.31 million into the stock. Of all companies tracked, NetEase had the 30th highest net in-flow for the day. NetEase traded down ($5.72) for the day and closed at $339.05
Several brokerages recently weighed in on NTES. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $375.44 price objective for the company in a research report on Wednesday. Barclays set a $315.00 price objective on NetEase and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Deutsche Bank set a $380.00 price objective on NetEase and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. ValuEngine lowered NetEase from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research lowered NetEase from a “hold” rating to a “sell” rating in a research report on Wednesday, November 22nd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. NetEase currently has a consensus rating of “Hold” and an average price target of $330.56.
The stock has a market cap of $44,240.00, a PE ratio of 22.12, a P/E/G ratio of 1.61 and a beta of 0.94.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in NetEase in the third quarter valued at $2,092,000. Artisan Partners Limited Partnership acquired a new stake in NetEase in the second quarter valued at $287,603,000. FMR LLC increased its position in shares of NetEase by 63.3% during the second quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock worth $652,551,000 after purchasing an additional 841,692 shares in the last quarter. Capital International Investors acquired a new stake in shares of NetEase during the third quarter worth about $180,472,000. Finally, Renaissance Technologies LLC increased its position in shares of NetEase by 20.1% during the second quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock worth $819,517,000 after purchasing an additional 456,300 shares in the last quarter. Institutional investors and hedge funds own 50.42% of the company’s stock.
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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