Investors Buy NetEase (NTES) on Weakness

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.

NetEase declared that its board has approved a stock repurchase program on Wednesday, November 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.

COPYRIGHT VIOLATION WARNING: “Investors Buy NetEase (NTES) on Weakness” was originally posted by Week Herald and is owned by of Week Herald. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The legal version of this news story can be viewed at https://weekherald.com/2018/01/11/investors-buy-netease-ntes-on-weakness.html.

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.

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.

Leave a Reply