Schwab Charles Investment Management Inc. Invests $4.64 Million in NetEase Inc (NTES)

Schwab Charles Investment Management Inc. purchased a new position in NetEase Inc (NASDAQ:NTES) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,602 shares of the technology company’s stock, valued at approximately $4,644,000.

Several other large investors also recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of NetEase by 1.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 132,570 shares of the technology company’s stock worth $34,973,000 after buying an additional 1,638 shares during the last quarter. Commonwealth Bank of Australia increased its stake in shares of NetEase by 400.0% in the third quarter. Commonwealth Bank of Australia now owns 1,000 shares of the technology company’s stock worth $262,000 after buying an additional 800 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of NetEase by 71.1% in the third quarter. Jupiter Asset Management Ltd. now owns 91,200 shares of the technology company’s stock worth $24,059,000 after buying an additional 37,900 shares during the last quarter. Prudence Asset Management Ltd increased its stake in shares of NetEase by 950.0% in the third quarter. Prudence Asset Management Ltd now owns 10,500 shares of the technology company’s stock worth $2,770,000 after buying an additional 9,500 shares during the last quarter. Finally, Charles Lim Capital Ltd increased its stake in shares of NetEase by 65.4% in the third quarter. Charles Lim Capital Ltd now owns 201,046 shares of the technology company’s stock worth $53,038,000 after buying an additional 79,519 shares during the last quarter. Institutional investors and hedge funds own 50.42% of the company’s stock.

A number of brokerages recently issued reports on NTES. Vetr upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $375.44 price target for the company in a research note on Wednesday. Jefferies Group downgraded shares of NetEase from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $330.00 to $290.00 in a report on Tuesday, October 3rd. Benchmark decreased their price objective on shares of NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, November 16th. Deutsche Bank set a $334.00 price objective on shares of NetEase and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, Citigroup reaffirmed a “buy” rating and issued a $351.00 price objective on shares of NetEase in a report on Thursday, November 16th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $330.56.

NetEase Inc (NASDAQ NTES) opened at $334.90 on Thursday. The company has a market cap of $44,240.00, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94. NetEase Inc has a 1-year low of $232.14 and a 1-year high of $377.64.

NetEase declared that its board has approved a share repurchase program on Wednesday, November 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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About NetEase

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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