NetEase Inc (NTES) Stake Increased by Daiwa SB Investments Ltd.
Daiwa SB Investments Ltd. lifted its holdings in NetEase Inc (NASDAQ:NTES) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,100 shares of the technology company’s stock after acquiring an additional 800 shares during the quarter. NetEase comprises about 0.8% of Daiwa SB Investments Ltd.’s investment portfolio, making the stock its 28th largest position. Daiwa SB Investments Ltd.’s holdings in NetEase were worth $3,140,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of NTES. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of NetEase by 117.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after buying an additional 267 shares during the period. PNC Financial Services Group Inc. boosted its position 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 worth $161,000 after buying an additional 98 shares during the period. Mariner Wealth Advisors LLC acquired a new stake in shares of NetEase in the second quarter worth $203,000. Yorktown Management & Research Co Inc acquired a new stake in shares of NetEase in the second quarter worth $210,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of NetEase in the second quarter worth $218,000. 50.42% of the stock is owned by institutional investors and hedge funds.
Shares of NetEase Inc (NTES) opened at $327.40 on Friday. NetEase Inc has a 1-year low of $232.14 and a 1-year high of $377.64. The stock has a market capitalization of $43,250.00, a price-to-earnings ratio of 21.55, a P/E/G ratio of 1.61 and a beta of 0.94.
NetEase declared that its board has authorized a stock buyback plan on Wednesday, November 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
NTES has been the subject of several recent analyst reports. Citigroup reaffirmed a “buy” rating and issued a $351.00 target price on shares of NetEase in a research report on Thursday, November 16th. Vetr lowered NetEase from a “strong-buy” rating to a “buy” rating and set a $327.04 price objective for the company. in a report on Monday, September 18th. ValuEngine upgraded NetEase from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Deutsche Bank set a $325.00 price objective on NetEase and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, Benchmark cut their price objective on NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, November 16th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $339.89.
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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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