Shelton Capital Management Increases Holdings in NetEase, Inc. (NTES)
Shelton Capital Management boosted its stake in NetEase, Inc. (NASDAQ:NTES) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,421 shares of the technology company’s stock after acquiring an additional 451 shares during the period. Shelton Capital Management’s holdings in NetEase were worth $3,433,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in NetEase by 1,571.4% in the first quarter. BlackRock Inc. now owns 5,039,176 shares of the technology company’s stock valued at $1,431,127,000 after acquiring an additional 4,737,686 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of NetEase during the 2nd quarter valued at approximately $287,603,000. FMR LLC grew its position in shares of NetEase by 63.3% during the 2nd quarter. FMR LLC now owns 2,170,611 shares of the technology company’s stock valued at $652,551,000 after acquiring an additional 841,692 shares during the period. Fisher Asset Management LLC grew its position in shares of NetEase by 142.3% during the 2nd quarter. Fisher Asset Management LLC now owns 839,739 shares of the technology company’s stock valued at $252,451,000 after acquiring an additional 493,209 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of NetEase by 20.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,726,000 shares of the technology company’s stock valued at $819,517,000 after acquiring an additional 456,300 shares during the period. 50.38% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on NTES shares. BidaskClub lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. ValuEngine downgraded shares of NetEase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $343.00 price objective (up from $300.00) on shares of NetEase in a report on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $330.00 target price on shares of NetEase in a research report on Friday, June 16th. Finally, Standpoint Research lowered shares of NetEase from a “buy” rating to a “reduce” rating and increased their target price for the stock from $345.00 to $360.00 in a research report on Wednesday, June 7th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. NetEase presently has an average rating of “Hold” and an average target price of $302.72.
NetEase, Inc. (NASDAQ:NTES) traded down 0.31% on Wednesday, hitting $271.32. 712,193 shares of the stock were exchanged. NetEase, Inc. has a 12 month low of $211.11 and a 12 month high of $337.55.
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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