Traders Buy NetEase (NTES) on Weakness

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Traders bought shares of NetEase Inc (NASDAQ:NTES) on weakness during trading on Monday. $74.98 million flowed into the stock on the tick-up and $62.92 million flowed out of the stock on the tick-down, for a money net flow of $12.06 million into the stock. Of all companies tracked, NetEase had the 25th highest net in-flow for the day. NetEase traded down ($13.52) for the day and closed at $227.62

Several research analysts recently issued reports on NTES shares. Zacks Investment Research lowered NetEase from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Nomura reduced their target price on NetEase from $352.00 to $265.00 in a research report on Monday, October 29th. ValuEngine raised NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. BidaskClub raised NetEase from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 7th. Finally, Benchmark cut their price objective on NetEase from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, November 15th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $272.39.

The firm has a market capitalization of $29.89 billion, a P/E ratio of 18.50, a PEG ratio of 1.30 and a beta of 0.74.

A number of institutional investors have recently bought and sold shares of NTES. Advisors Asset Management Inc. grew its holdings in NetEase by 18.1% during the second quarter. Advisors Asset Management Inc. now owns 15,101 shares of the technology company’s stock worth $3,816,000 after acquiring an additional 2,313 shares during the period. Aperio Group LLC boosted its position in NetEase by 7.2% during the third quarter. Aperio Group LLC now owns 29,053 shares of the technology company’s stock worth $6,631,000 after purchasing an additional 1,956 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in NetEase by 286.3% during the third quarter. Cornerstone Wealth Management LLC now owns 41,639 shares of the technology company’s stock worth $151,000 after purchasing an additional 30,861 shares in the last quarter. Handelsinvest Investeringsforvaltning boosted its position in NetEase by 10.2% during the third quarter. Handelsinvest Investeringsforvaltning now owns 6,486 shares of the technology company’s stock worth $1,481,000 after purchasing an additional 600 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in NetEase by 87.0% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 4,300 shares of the technology company’s stock worth $965,000 after purchasing an additional 2,000 shares in the last quarter. 45.27% of the stock is currently owned by hedge funds and other institutional investors.

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About NetEase (NASDAQ:NTES)

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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