Davis Selected Advisers Has $79.85 Million Stock Holdings in NetEase, Inc. $NTES

Davis Selected Advisers trimmed its holdings in NetEase, Inc. (NASDAQ:NTES) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 593,347 shares of the technology company’s stock after selling 2,767 shares during the quarter. Davis Selected Advisers’ holdings in NetEase were worth $79,853,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NTES. Advisors Capital Management LLC bought a new stake in NetEase in the second quarter worth $212,000. ABN Amro Investment Solutions bought a new position in NetEase during the second quarter valued at about $2,056,000. ABC Arbitrage SA acquired a new stake in shares of NetEase in the second quarter worth about $995,000. PNC Financial Services Group Inc. boosted its stake in shares of NetEase by 27.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,564 shares of the technology company’s stock worth $1,287,000 after acquiring an additional 2,038 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of NetEase during the 2nd quarter valued at about $3,786,000. Institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

NTES has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Wednesday, October 8th. Wall Street Zen raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Arete Research upgraded shares of NetEase to a “strong-buy” rating in a research note on Wednesday, September 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 target price on shares of NetEase in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, NetEase has an average rating of “Moderate Buy” and an average price target of $142.30.

NetEase Price Performance

NASDAQ:NTES opened at $141.80 on Friday. The stock has a market cap of $89.84 billion, a P/E ratio of 19.19, a PEG ratio of 1.91 and a beta of 0.65. The company has a fifty day moving average price of $147.51 and a 200 day moving average price of $134.22. NetEase, Inc. has a one year low of $80.89 and a one year high of $159.55.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.