Ninety One UK Ltd. recently announced the acquisition of new stake in NetEase Inc. (NASDAQ:NTES). The institutional investor has increased its shareholding in the Communication Services company by 2.38% to 6.81 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 0.99% valued currently at $607.33 million. In addition, Orbis Investment Management Ltd. raised its holdings by 0.97 million to 4.6 million shares. And Alkeon Capital Management LLC has lifted its position by 12.56% or 0.23 million shares – to 2.09 million shares.
With over 1.57 million NetEase Inc. (NTES) shares trading Friday and a closing price of $87.43 on the day, the dollar volume was approximately $137.7 million. The shares have shown a positive half year performance of 22.57% and its price on 05/19/23 gained nearly 0.45%. Currently, there are 647.80M common shares owned by the public and among those 643.18M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 41 analysts who have offered their price forecasts for NTES have a consensus price objective of $737.03. The analysts have set the share’s price value over the next 12 months at a high of $944.42 and a low of $398.15. The average price target is 20.81% above its recent price level and an upside to the estimated low will see the stock gain 78.04% over that period. But an upside of 90.74% will see the stock hit the forecast high price target while median target price for the stock is $744.54.
The top 3 mutual fund holders in NetEase Inc. are Invesco Developing Markets Fund, Dodge & Cox International Stock F, and Government Pension Fund – Global. Invesco Developing Markets Fund owns 9.06 million shares of the company’s stock, all valued at over $807.8 million. Dodge & Cox International Stock F sold -0.13 million shares to see its total holdings shrink to 6.47 million shares valued at over $576.57 million and representing 0.94% of the shares outstanding. Government Pension Fund – Global bought 1.99 million shares to bring its total holdings to over 5.73 million shares at a value of $511.09 million. Government Pension Fund – Global now owns shares totaling to 0.83% of the shares outstanding.
Shares of NetEase Inc. (NASDAQ: NTES) opened at $88.11, up $1.07 from a prior closing price of $87.04. However, the script later moved the day high at 88.25, up 0.45%. The company’s stock has a 5-day price change of 2.64% and 1.85% over the past three months. NTES shares are trading 20.38% year to date (YTD), with the 12-month market performance down to -6.57% lower. It has a 12-month low price of $53.09 and touched a high of $108.77 over the same period. NTES has an average intraday trading volume of 1.30 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.09%, -0.92%, and 8.02% respectively.
Institutional ownership of NetEase Inc. (NASDAQ: NTES) shares accounts for 15.80% of the company’s 647.80M shares outstanding. Mutual fund holders own 4.12%, while other institutional holders and individual stakeholders account for 9.65% and — respectively.
It has a market capitalization of $56.14B and a beta (3y monthly) value of 0.52. The stock’s trailing 12-month PE ratio is 20.56, while the earnings-per-share (ttm) stands at $4.25. The company has a PEG of 19.22 and a Quick Ratio of 2.30 with the debt-to-equity ratio at 0.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.24% over the week and 2.25% over the month.
Analysts forecast that NetEase Inc. (NTES) will achieve an EPS of $1.26 for the current quarter, $1.22 for the next quarter and $5.66 for 2024. The lowest estimate earnings-per-share for the quarter is $1.07 while analysts give the company a high EPS estimate of $1.47. Comparatively, EPS for the current quarter was $1.14 a year ago. Earnings per share for the fiscal year are expected to increase by 19.50%, and 11.20% over the next financial year. EPS should shrink at an annualized rate of 1.07% over the next five years, compared to 11.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 41 brokerage firm advisors rate NetEase Inc. (NTES) as a “Strong Buy” at a consensus score of 1.70. Specifically, 33 Wall Street analysts polled rate the stock as a buy, while 3 of the 41 advise that investors “hold,” and 1 rated it as a “Sell.”
