Teachers Retirement System of The State of Kentucky Lowers Stake in NetEase Inc (NASDAQ:NTES)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of NetEase Inc (NASDAQ:NTES) by 11.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 47,800 shares of the technology company’s stock after selling 6,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in NetEase were worth $20,525,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Parallel Advisors LLC grew its position in NetEase by 11.0% during the 2nd quarter. Parallel Advisors LLC now owns 262 shares of the technology company’s stock worth $112,000 after purchasing an additional 26 shares during the last quarter. American Beacon Advisors Inc. lifted its stake in shares of NetEase by 27.3% in the 1st quarter. American Beacon Advisors Inc. now owns 154 shares of the technology company’s stock worth $49,000 after acquiring an additional 33 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of NetEase by 20.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 240 shares of the technology company’s stock worth $77,000 after acquiring an additional 40 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of NetEase by 5.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 1,005 shares of the technology company’s stock worth $431,000 after acquiring an additional 48 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of NetEase in the 2nd quarter worth $25,000. 45.29% of the stock is currently owned by institutional investors.

Several research firms have recently commented on NTES. Nomura Instinet raised their target price on shares of NetEase from $439.00 to $464.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Zacks Investment Research upgraded shares of NetEase from a “hold” rating to a “buy” rating and set a $517.00 price objective for the company in a research note on Tuesday, August 18th. Goldman Sachs Group began coverage on shares of NetEase in a research note on Thursday, June 11th. They issued a “buy” rating for the company. New Street Research upgraded shares of NetEase from a “neutral” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Thursday, May 21st. Finally, Cfra raised their price objective on shares of NetEase from $380.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $458.17.

NetEase stock traded down $3.19 during trading on Wednesday, reaching $474.29. The company had a trading volume of 371,658 shares, compared to its average volume of 794,735. NetEase Inc has a 12-month low of $252.94 and a 12-month high of $517.65. The stock’s 50 day moving average price is $475.02 and its two-hundred day moving average price is $400.21. The firm has a market capitalization of $61.10 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 11.60 and a beta of 0.63.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, August 13th. The technology company reported $39.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $36.08. NetEase had a net margin of 36.43% and a return on equity of 34.69%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.46 billion. Equities analysts expect that NetEase Inc will post 16.37 earnings per share for the current year.

NetEase Company Profile

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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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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