Main Street Research LLC boosted its stake in shares of NetEase Inc (NASDAQ:NTES) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,310 shares of the technology company’s stock after acquiring an additional 1,066 shares during the quarter. NetEase accounts for 1.9% of Main Street Research LLC’s portfolio, making the stock its 24th largest position. Main Street Research LLC’s holdings in NetEase were worth $12,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its stake in NetEase by 1.3% during the second quarter. Ameritas Investment Partners Inc. now owns 1,366 shares of the technology company’s stock worth $411,000 after acquiring an additional 17 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of NetEase by 22.4% in the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $161,000 after buying an additional 98 shares in the last quarter. National Asset Management Inc. increased its stake in shares of NetEase by 8.5% in the second quarter. National Asset Management Inc. now owns 1,742 shares of the technology company’s stock valued at $524,000 after buying an additional 136 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of NetEase by 2.5% in the third quarter. Janney Montgomery Scott LLC now owns 7,021 shares of the technology company’s stock valued at $1,852,000 after buying an additional 170 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of NetEase by 19.3% in the third quarter. Pacer Advisors Inc. now owns 1,187 shares of the technology company’s stock valued at $313,000 after buying an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 48.89% of the company’s stock.

A number of analysts have recently weighed in on NTES shares. Goldman Sachs Group restated a “buy” rating and issued a $432.00 target price (up from $340.00) on shares of NetEase in a research note on Thursday, January 18th. They noted that the move was a valuation call. UBS Group lowered NetEase from a “buy” rating to a “neutral” rating in a research note on Monday, October 30th. Nomura upgraded NetEase from a “neutral” rating to a “buy” rating and raised their target price for the company from $297.00 to $428.00 in a research note on Friday, November 17th. Vetr upgraded NetEase from a “hold” rating to a “buy” rating and set a $363.82 target price for the company in a research note on Monday, January 1st. Finally, Zacks Investment Research upgraded NetEase from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $349.14.

NetEase Inc (NASDAQ:NTES) opened at $312.45 on Tuesday. The stock has a market capitalization of $41,270.00, a PE ratio of 19.91, a P/E/G ratio of 1.62 and a beta of 0.75. NetEase Inc has a 1-year low of $252.54 and a 1-year high of $377.64.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Wednesday, November 15th. The technology company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.20. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.84 billion. NetEase had a return on equity of 31.84% and a net margin of 25.34%. equities analysts expect that NetEase Inc will post 12.55 earnings per share for the current fiscal year.

NetEase declared that its board has initiated a stock repurchase plan on Wednesday, November 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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About NetEase

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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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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