Janney Montgomery Scott LLC Sells 60 Shares of NetEase Inc (NASDAQ:NTES)

Janney Montgomery Scott LLC lessened its position in NetEase Inc (NASDAQ:NTES) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,710 shares of the technology company’s stock after selling 60 shares during the period. Janney Montgomery Scott LLC’s holdings in NetEase were worth $1,520,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC boosted its holdings in shares of NetEase by 2.5% in the third quarter. Ridgewood Investments LLC now owns 2,298 shares of the technology company’s stock valued at $612,000 after buying an additional 56 shares during the period. Wetherby Asset Management Inc. boosted its holdings in shares of NetEase by 3.6% in the second quarter. Wetherby Asset Management Inc. now owns 1,827 shares of the technology company’s stock valued at $467,000 after buying an additional 63 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of NetEase by 1.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,959 shares of the technology company’s stock valued at $2,384,000 after buying an additional 93 shares during the period. Huntington National Bank boosted its holdings in shares of NetEase by 101.0% in the second quarter. Huntington National Bank now owns 209 shares of the technology company’s stock valued at $53,000 after buying an additional 105 shares during the period. Finally, Hartwell J M Limited Partnership boosted its holdings in shares of NetEase by 5.9% in the second quarter. Hartwell J M Limited Partnership now owns 3,250 shares of the technology company’s stock valued at $831,000 after buying an additional 180 shares during the period. Institutional investors own 47.06% of the company’s stock.

Several research firms have recently weighed in on NTES. Zacks Investment Research upgraded 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. Barclays upped their price target on shares of NetEase from $320.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. ValuEngine cut shares of NetEase from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Goldman Sachs Group cut shares of NetEase from a “buy” rating to a “neutral” rating in a report on Sunday, August 11th. Finally, BidaskClub upgraded shares of NetEase from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $289.21.

Shares of NTES opened at $300.13 on Friday. NetEase Inc has a 12 month low of $208.63 and a 12 month high of $309.24. The firm has a fifty day simple moving average of $275.66 and a 200 day simple moving average of $262.41. The stock has a market capitalization of $37.63 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 0.85 and a beta of 0.81.

NetEase (NASDAQ:NTES) last announced its earnings results on Wednesday, August 7th. The technology company reported $3.44 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.73 billion. On average, equities research analysts predict that NetEase Inc will post 10.81 EPS for the current year.

NetEase 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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