OmniStar Financial Group Inc. bought a new stake in shares of NetEase Inc (NASDAQ:NTES) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 2,364 shares of the technology company’s stock, valued at approximately $629,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wetherby Asset Management Inc. grew its stake in NetEase by 3.6% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,827 shares of the technology company’s stock worth $467,000 after acquiring an additional 63 shares in the last quarter. Huntington National Bank lifted its position in shares of NetEase by 101.0% in the 2nd quarter. Huntington National Bank now owns 209 shares of the technology company’s stock worth $53,000 after purchasing an additional 105 shares during the period. Hartwell J M Limited Partnership lifted its position in NetEase by 5.9% during the second quarter. Hartwell J M Limited Partnership now owns 3,250 shares of the technology company’s stock valued at $831,000 after acquiring an additional 180 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in NetEase during the second quarter valued at approximately $47,000. Finally, Quantamental Technologies LLC purchased a new stake in NetEase during the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 46.84% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of NetEase from a “hold” rating to a “buy” rating and set a $238.00 price target for the company in a report on Thursday, August 8th. BidaskClub upgraded shares of NetEase from a “strong sell” rating to a “sell” rating in a research report on Monday, August 12th. ValuEngine lowered shares of NetEase from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup lifted their target price on shares of NetEase from $301.00 to $326.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Goldman Sachs Group lowered shares of NetEase from a “buy” rating to a “neutral” rating in a research report on Sunday, August 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $287.21.
Shares of NASDAQ:NTES traded up $9.83 on Friday, reaching $268.79. 809,655 shares of the company were exchanged, compared to its average volume of 726,919. NetEase Inc has a 1-year low of $188.05 and a 1-year high of $289.68. The firm has a market cap of $32.58 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.82. The company has a 50-day moving average of $263.77 and a 200-day moving average of $258.96.
NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $3.44 EPS for the quarter, beating the Zacks’ consensus estimate of $2.29 by $1.15. NetEase had a net margin of 11.86% and a return on equity of 18.39%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.73 billion. As a group, analysts expect that NetEase Inc will post 10.81 earnings per share for the current year.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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