Netease INC (NTES) Market Value Declined While Cornerstone Capital Management Holdings LLC Has Raised by $466.68 Million Its Stake

April 16, 2018 - By Adrian Mccoy

Cornerstone Capital Management Holdings Llc increased its stake in Netease Inc (NTES) by 69.45% based on its latest 2017Q4 regulatory filing with the SEC. Cornerstone Capital Management Holdings Llc bought 1.35M shares as the company’s stock declined 23.21% with the market. The institutional investor held 3.30 million shares of the miscellaneous company at the end of 2017Q4, valued at $1.14 billion, up from 1.95 million at the end of the previous reported quarter. Cornerstone Capital Management Holdings Llc who had been investing in Netease Inc for a number of months, seems to be bullish on the $35.66B market cap company. The stock decreased 0.50% or $1.35 during the last trading session, reaching $271.64. About 558,627 shares traded. NetEase, Inc. (NASDAQ:NTES) has declined 2.94% since April 16, 2017 and is downtrending. It has underperformed by 14.49% the S&P500.

Cornerstone Capital Management Holdings Llc, which manages about $11.46 billion and $14.30B US Long portfolio, decreased its stake in Ryder System Inc (NYSE:R) by 150,402 shares to 206,505 shares, valued at $17.38M in 2017Q4, according to the filing. It also reduced its holding in Baxter International Inc (NYSE:BAX) by 80,508 shares in the quarter, leaving it with 532,020 shares, and cut its stake in Expedia Inc (NASDAQ:EXPE).

NetEase, Inc. (NASDAQ:NTES) Ratings Coverage

Among 9 analysts covering NetEase Inc (NASDAQ:NTES), 4 have Buy rating, 3 Sell and 2 Hold. Therefore 44% are positive. NetEase Inc had 12 analyst reports since November 16, 2017 according to SRatingsIntel. The company was maintained on Thursday, November 16 by Jefferies. As per Tuesday, January 23, the company rating was maintained by Jefferies. Bank of America maintained NetEase, Inc. (NASDAQ:NTES) rating on Friday, November 17. Bank of America has “Buy” rating and $361 target. As per Monday, December 18, the company rating was maintained by Jefferies. Barclays Capital maintained it with “Hold” rating and $320.0 target in Tuesday, November 21 report. The rating was upgraded by Nomura to “Buy” on Friday, November 17. As per Thursday, November 16, the company rating was downgraded by CLSA. The stock has “Sell” rating by Bernstein on Tuesday, February 27. The stock of NetEase, Inc. (NASDAQ:NTES) earned “Hold” rating by Jefferies on Tuesday, April 10.

NetEase, Inc. (NASDAQ:NTES) Ratings Chart

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