Fifth Third Bancorp buys 146 shares of NetEase, Inc. (NASDAQ:NTES)

Fifth Third Bancorp increased its position in shares of NetEase, Inc. (NASDAQ:NTES – Free Report) by 1.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,658 shares of the technology company’s stock after purchasing an additional 146 shares during the period. Fifth Third Bancorp’s holdings in NetEase were worth $732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NTES. Mather Group LLC. grew its holdings in NetEase by 1,415.0% during the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after purchasing an additional 283 shares during the period. USA Financial Formulas boosted its position in NetEase by 1,153.1% in the fourth quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock valued at $37,000 after purchasing an additional 369 shares during the last quarter. UMB Bank purchased a new position in NetEase in the first quarter valued at about $50,000. ORG Partners LLC bought a new stake in shares of NetEase in the first quarter valued at about $50,000. Finally, Lindbrook Capital LLC raised its position in shares of NetEase by 14.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company’s stock worth $97,000 after buying an additional 128 shares during the last quarter. 11.07% of shares are held by institutional investors.

Analysts set new price targets

Several research analysts recently weighed in on NTES shares. Barclays initiated coverage on NetEase in a research note on Thursday, June 13th. They set an “equal weight” rating and a $104.00 target price on the stock. Jefferies Financial Group cut their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley restated an “equal weight” rating and issued a $100.00 target price on shares of NetEase in a research note on Friday, July 5th. Benchmark boosted their price objective on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. NetEase presently has an average rating of “Moderate Buy” and a consensus price target of $121.25, based on data from MarketBeat.

Read our latest report on NTES

NetEase stock down 11.2%

Shares of NTES stock opened at $82.25 on Friday. The stock has a market cap of $52.82 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.81 and a beta of 0.53. NetEase, Inc. it has a 52-week low of $80.82 and a 52-week high of $118.89. The firm has a 50-day simple moving average of $91.80 and a 200-day simple moving average of $97.35.

NetEase (NASDAQ:NTES – Get Your Free Report ) last announced its earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.05). The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. NetEase had a return on equity of 24.19% and a net margin of 28.75%. On average, analysts expect that NetEase, Inc. to post 6.7 earnings per share for the current year.

NetEase Company Profile

(Free report)

NetEase, Inc is engaged in online gaming, music streaming, online intelligent learning services and Internet content service businesses in China and internationally. The company operates through Games and related value-added services, Youdao, Cloud Music and Innovative Business and others segments.

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