NetEase Inc (NASDAQ:NTES) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp trimmed its holdings in shares of NetEase Inc (NASDAQ:NTES) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,098 shares of the technology company’s stock after selling 13,000 shares during the quarter. Alberta Investment Management Corp owned approximately 0.08% of NetEase worth $27,904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTES. Wetherby Asset Management Inc. raised its stake in shares of NetEase by 2.9% in the first quarter. Wetherby Asset Management Inc. now owns 1,764 shares of the technology company’s stock valued at $426,000 after acquiring an additional 50 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in shares of NetEase by 8.0% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 1,137 shares of the technology company’s stock worth $275,000 after purchasing an additional 84 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of NetEase by 4.1% in the first quarter. TD Asset Management Inc. now owns 2,264 shares of the technology company’s stock worth $547,000 after purchasing an additional 90 shares during the last quarter. Huntington National Bank grew 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 worth $53,000 after purchasing an additional 105 shares during the last quarter. Finally, Hartwell J M Limited Partnership grew 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 worth $831,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 46.84% of the company’s stock.

Shares of NASDAQ:NTES traded up $9.83 during trading on Friday, reaching $268.79. The stock had a trading volume of 762,885 shares, compared to its average volume of 653,089. The company has a market capitalization of $32.81 billion, a P/E ratio of 39.13, a PEG ratio of 0.74 and a beta of 0.82. The firm’s 50-day simple moving average is $264.14 and its 200 day simple moving average is $259.16. NetEase Inc has a one year low of $188.05 and a one year high of $289.68.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $3.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $1.15. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.73 billion. NetEase had a net margin of 11.86% and a return on equity of 18.39%. As a group, analysts forecast that NetEase Inc will post 10.81 earnings per share for the current year.

A number of research analysts have recently commented on NTES shares. Jefferies Financial Group started coverage on shares of NetEase in a report on Monday, August 5th. They issued a “buy” rating and a $274.60 price target on the stock. Zacks Investment Research upgraded shares of NetEase from a “hold” rating to a “buy” rating and set a $238.00 price target on the stock in a report on Thursday, August 8th. BidaskClub upgraded shares of NetEase from a “strong sell” rating to a “sell” rating in a report on Monday, August 12th. Tigress Financial assumed coverage on shares of NetEase in a report on Friday, August 16th. They set a “buy” rating on the stock. Finally, ValuEngine cut shares of NetEase from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $287.21.

About NetEase

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.

Read More: Intrinsic Value

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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