NetEase Inc (NASDAQ:NTES) Shares Sold by Nationwide Fund Advisors

Nationwide Fund Advisors decreased its position in shares of NetEase Inc (NASDAQ:NTES) by 46.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,800 shares of the technology company’s stock after selling 9,500 shares during the period. Nationwide Fund Advisors’ holdings in NetEase were worth $2,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc grew its stake in shares of NetEase by 21.4% during the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock valued at $118,000 after buying an additional 69 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of NetEase by 22.4% during the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $161,000 after buying an additional 98 shares during the last quarter. Mariner Wealth Advisors LLC bought a new position in shares of NetEase during the second quarter valued at about $203,000. Hikari Power Ltd bought a new position in shares of NetEase during the second quarter valued at about $210,000. Finally, Yorktown Management & Research Co Inc bought a new position in shares of NetEase during the second quarter valued at about $210,000. Institutional investors and hedge funds own 50.42% of the company’s stock.

NetEase Inc (NASDAQ NTES) traded down $7.50 during midday trading on Thursday, hitting $327.40. The company had a trading volume of 1,796,767 shares, compared to its average volume of 1,370,000. The company has a market capitalization of $43,250.00, a PE ratio of 21.55, a PEG ratio of 1.61 and a beta of 0.94. NetEase Inc has a 12 month low of $232.14 and a 12 month high of $377.64.

NetEase announced that its Board of Directors has approved a stock buyback program on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

NTES has been the topic of a number of recent research reports. UBS Group cut NetEase from a “buy” rating to a “neutral” rating in a research note on Monday, October 30th. Nomura raised NetEase from a “neutral” rating to a “buy” rating and raised their price objective for the company from $297.00 to $428.00 in a research note on Friday, November 17th. Zacks Investment Research raised NetEase from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Vetr cut NetEase from a “strong-buy” rating to a “buy” rating and set a $363.82 target price on the stock. in a research note on Monday, December 11th. Finally, Deutsche Bank set a $325.00 target price on NetEase and gave the stock a “buy” rating in a research note on Friday, October 6th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. NetEase presently has a consensus rating of “Hold” and a consensus price target of $330.56.

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NetEase Company Profile

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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