Somerset Capital Management LLP Decreases Position in NetEase Inc (NTES)

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Somerset Capital Management LLP trimmed its stake in shares of NetEase Inc (NASDAQ:NTES) by 43.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 145,196 shares of the technology company’s stock after selling 113,800 shares during the quarter. NetEase accounts for about 7.5% of Somerset Capital Management LLP’s holdings, making the stock its 6th largest position. Somerset Capital Management LLP owned about 0.11% of NetEase worth $33,167,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in NetEase in the 2nd quarter worth about $108,000. Northwestern Mutual Wealth Management Co. increased its stake 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 acquiring an additional 227 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake 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 acquiring an additional 30,861 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in NetEase in the 2nd quarter worth about $167,000. Finally, Guinness Asset Management Ltd increased its stake 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 acquiring an additional 320 shares during the last quarter. Institutional investors own 45.38% of the company’s stock.

Shares of NTES traded up $1.66 during midday trading on Tuesday, reaching $198.77. The stock had a trading volume of 115,418 shares, compared to its average volume of 991,755. NetEase Inc has a 12-month low of $184.60 and a 12-month high of $377.64. The stock has a market capitalization of $26.42 billion, a P/E ratio of 16.02, a PEG ratio of 1.29 and a beta of 0.79.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.82. NetEase had a return on equity of 14.57% and a net margin of 11.49%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Research analysts expect that NetEase Inc will post 7.42 EPS for the current fiscal year.

A number of equities analysts have weighed in on the company. Nomura decreased their target price on NetEase from $352.00 to $265.00 in a research note on Monday. Zacks Investment Research lowered NetEase from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Barclays set a $250.00 target price on NetEase and gave the stock a “hold” rating in a research note on Thursday, October 18th. BidaskClub upgraded NetEase from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Jefferies Financial Group upgraded NetEase from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $311.92.

NetEase 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: Cash Flow

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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