Point72 Asset Management L.P. Has $10.61 Million Holdings in NetEase Inc (NASDAQ:NTES)

Point72 Asset Management L.P. lifted its holdings in shares of NetEase Inc (NASDAQ:NTES) by 320.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,000 shares of the technology company’s stock after purchasing an additional 32,000 shares during the quarter. Point72 Asset Management L.P.’s holdings in NetEase were worth $10,612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NTES. BlackRock Inc. grew its stake in NetEase by 6.8% in the first quarter. BlackRock Inc. now owns 5,300,537 shares of the technology company’s stock valued at $1,486,218,000 after purchasing an additional 337,387 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of NetEase by 15.5% during the 1st quarter. Baillie Gifford & Co. now owns 3,084,294 shares of the technology company’s stock worth $864,805,000 after acquiring an additional 413,855 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of NetEase by 0.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,121,223 shares of the technology company’s stock worth $283,299,000 after acquiring an additional 6,926 shares during the period. Vontobel Asset Management Inc. bought a new position in shares of NetEase during the 2nd quarter worth approximately $256,375,000. Finally, Krane Funds Advisors LLC boosted its stake in shares of NetEase by 64.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 463,651 shares of the technology company’s stock worth $117,151,000 after acquiring an additional 182,082 shares during the period. 45.78% of the stock is currently owned by institutional investors.

NetEase stock opened at $216.81 on Tuesday. NetEase Inc has a 52 week low of $184.60 and a 52 week high of $377.64. The firm has a market cap of $29.98 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.55 and a beta of 0.79.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Wednesday, August 8th. The technology company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.82. NetEase had a return on equity of 14.57% and a net margin of 11.49%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Research analysts expect that NetEase Inc will post 7.01 earnings per share for the current fiscal year.

Several research analysts have recently commented on NTES shares. JPMorgan Chase & Co. upgraded NetEase from an “underweight” rating to an “overweight” rating and set a $185.00 target price for the company in a research note on Tuesday, July 3rd. ValuEngine downgraded NetEase from a “sell” rating to a “strong sell” rating in a research note on Friday, August 10th. BidaskClub upgraded NetEase from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 15th. Nomura reduced their price target on NetEase from $386.00 to $352.00 and set a “buy” rating for the company in a research note on Friday, August 10th. Finally, Barclays restated a “hold” rating and issued a $275.00 price target (up from $255.00) on shares of NetEase in a research note on Saturday, July 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $325.25.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. 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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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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