Royal Bank of Canada Has $53.86 Million Holdings in NetEase, Inc. (NTES)
Royal Bank of Canada boosted its position in shares of NetEase, Inc. (NASDAQ:NTES) by 45.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,169 shares of the technology company’s stock after buying an additional 55,760 shares during the period. Royal Bank of Canada’s holdings in NetEase were worth $53,863,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. City Financial Investment Co Ltd acquired a new stake in NetEase during the second quarter worth about $2,826,000. Capital Guardian Trust Co. acquired a new stake in NetEase during the second quarter worth about $271,000. Employees Retirement System of Texas grew its stake in NetEase by 38.9% during the second quarter. Employees Retirement System of Texas now owns 25,000 shares of the technology company’s stock worth $7,516,000 after buying an additional 7,000 shares in the last quarter. Glovista Investments LLC acquired a new stake in NetEase during the second quarter worth about $5,188,000. Finally, Tudor Investment Corp ET AL grew its stake in NetEase by 56.7% during the second quarter. Tudor Investment Corp ET AL now owns 1,385 shares of the technology company’s stock worth $416,000 after buying an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 50.38% of the company’s stock.
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Shares of NetEase, Inc. (NASDAQ NTES) traded down 0.72% on Thursday, reaching $268.99. 204,791 shares of the company were exchanged. NetEase, Inc. has a 12-month low of $211.11 and a 12-month high of $337.55.
A number of equities research analysts have issued reports on NTES shares. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Jefferies Group LLC reiterated a “buy” rating and set a $330.00 price objective on shares of NetEase in a research note on Friday, June 16th. Deutsche Bank AG reiterated a “buy” rating and set a $343.00 price objective (up from $300.00) on shares of NetEase in a research note on Tuesday, July 25th. Vetr downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating and set a $327.04 price objective on the stock. in a research note on Monday, September 18th. Finally, Barclays PLC started coverage on shares of NetEase in a research note on Wednesday. They set an “equal weight” rating and a $260.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $302.72.
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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