Comgest Global Investors Sas Stake in Netease INC (NTES) Cut by $43.47 Million

June 14, 2017 - By Henry Gaston

Comgest Global Investors Sas decreased its stake in Netease Inc (NTES) by 7.24% based on its latest 2016Q4 regulatory filing with the SEC. Comgest Global Investors Sas sold 202,209 shares as the company’s stock declined 3.53% while stock markets rallied. The institutional investor held 2.59M shares of the miscellaneous company at the end of 2016Q4, valued at $557.56 million, down from 2.79M at the end of the previous reported quarter. Comgest Global Investors Sas who had been investing in Netease Inc for a number of months, seems to be less bullish one the $38.98 billion market cap company. It closed at $301.69 lastly. It is down 77.85% since June 14, 2016 and is uptrending. It has outperformed by 61.15% the S&P500.

Comgest Global Investors Sas, which manages about $3.08 billion US Long portfolio, upped its stake in Infosys Ltd (NYSE:INFY) by 3.68 million shares to 35.85 million shares, valued at $531.73 million in 2016Q4, according to the filing. It also increased its holding in Vipshop Hldgs Ltd (NYSE:VIPS) by 5.89M shares in the quarter, for a total of 21.98M shares, and has risen its stake in Coca Cola Femsa S A B De C V (NYSE:KOF).

More notable recent NetEase Inc (ADR) (NASDAQ:NTES) news were published by: Investorplace.com which released: “NetEase Inc (ADR): Tap Into China’s Strong Online Growth with NTES Stock” on June 08, 2017, also Livetradingnews.com with their article: “NetEase Inc (ADR) (NASDAQ:NTES) Heffx Trading Outlook” published on October 19, 2016, Fool.com published: “Why NetEase, Inc. Fell 13% in November” on December 15, 2016. More interesting news about NetEase Inc (ADR) (NASDAQ:NTES) were released by: Fool.com and their article: “Why NetEase Inc. Stock Popped Today” published on February 16, 2017 as well as Fool.com‘s news article titled: “Will NetEase Inc Deliver Another Blowout Performance in 2017?” with publication date: March 12, 2017.

NetEase Inc (ADR) (NASDAQ:NTES) Ratings Coverage

Among 14 analysts covering NetEase (NASDAQ:NTES), 11 have Buy rating, 2 Sell and 1 Hold. Therefore 79% are positive. NetEase had 24 analyst reports since August 12, 2015 according to SRatingsIntel. Macquarie Research maintained the stock with “Outperform” rating in Wednesday, September 28 report. The stock has “Hold” rating by Standpoint Research on Wednesday, August 26. Bernstein initiated it with “Underperform” rating and $200 target in Wednesday, January 11 report. The firm has “Buy” rating by Jefferies given on Monday, November 28. The firm earned “Hold” rating on Wednesday, August 12 by Vetr. Brean Capital initiated it with “Buy” rating and $235 target in Monday, July 18 report. Credit Suisse maintained NetEase Inc (ADR) (NASDAQ:NTES) on Monday, September 21 with “Outperform” rating. The company was initiated on Thursday, September 29 by Jefferies. The company was upgraded on Thursday, May 12 by Nomura. The firm has “Overweight” rating given on Thursday, November 10 by Morgan Stanley.

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