Cornerstone Capital Management Holdings LLC Has Decreased Netease INC (NTES) Holding by $565.00 Million as Market Value Declined

January 11, 2018 - By Stephen Andrade

Cornerstone Capital Management Holdings Llc decreased its stake in Netease Inc (NTES) by 52.45% based on its latest 2017Q3 regulatory filing with the SEC. Cornerstone Capital Management Holdings Llc sold 2.15M shares as the company’s stock declined 3.53% while stock markets rallied. The institutional investor held 1.95 million shares of the miscellaneous company at the end of 2017Q3, valued at $513.83 million, down from 4.10 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 less bullish one the $43.05B market cap company. The stock decreased 2.06% or $6.9 during the last trading session, reaching $328. About 1.17 million shares traded. NetEase, Inc. (NASDAQ:NTES) has risen 77.85% since January 11, 2017 and is uptrending. It has outperformed by 61.15% the S&P500.

Cornerstone Capital Management Holdings Llc, which manages about $11.46 billion and $12.74 billion US Long portfolio, upped its stake in Trinity Industries Inc (NYSE:TRN) by 180,144 shares to 751,052 shares, valued at $23.96M in 2017Q3, according to the filing. It also increased its holding in Pulte Group Inc (NYSE:PHM) by 996,747 shares in the quarter, for a total of 1.05M shares, and has risen its stake in Spdr S&P Midcap 400 Etf Trust (MDY).

Analysts await NetEase, Inc. (NASDAQ:NTES) to report earnings on February, 21. They expect $2.41 earnings per share, down 39.90 % or $1.60 from last year’s $4.01 per share. NTES’s profit will be $316.33M for 34.02 P/E if the $2.41 EPS becomes a reality. After $2.86 actual earnings per share reported by NetEase, Inc. for the previous quarter, Wall Street now forecasts -15.73 % negative EPS growth.

More notable recent NetEase, Inc. (NASDAQ:NTES) news were published by: Investorplace.com which released: “3 Stocks to Watch on Thursday: Mattel, Inc., NetEase Inc (ADR) and RH” on November 16, 2017, also Seekingalpha.com with their article: “NetEase: Time To Get Defensive” published on August 10, 2017, Investorplace.com published: “NetEase Inc (ADR): Tap Into China’s Strong Online Growth with NTES Stock” on June 08, 2017. More interesting news about NetEase, Inc. (NASDAQ:NTES) were released by: Investorplace.com and their article: “NetEase Inc (ADR) (NTES) Stock Cashes In on China’s Online Gaming” published on August 04, 2017 as well as Seekingalpha.com‘s news article titled: “Now May Be A Good Time To Buy NetEase Stock” with publication date: August 23, 2017.

NetEase, Inc. (NASDAQ:NTES) Ratings Coverage

Among 18 analysts covering NetEase (NASDAQ:NTES), 11 have Buy rating, 4 Sell and 3 Hold. Therefore 61% are positive. NetEase has $361 highest and $145.0 lowest target. $260.03’s average target is -20.72% below currents $328 stock price. NetEase had 40 analyst reports since August 12, 2015 according to SRatingsIntel. On Monday, December 18 the stock rating was maintained by Jefferies with “Hold”. The rating was maintained by Barclays Capital on Tuesday, November 21 with “Hold”. The firm has “Outperform” rating by CLSA given on Monday, October 3. The firm has “Buy” rating by Jefferies given on Monday, July 17. The rating was initiated by Barclays Capital on Wednesday, October 4 with “Hold”. The stock of NetEase, Inc. (NASDAQ:NTES) earned “Buy” rating by Bank of America on Friday, November 17. The rating was initiated by Nomura on Friday, January 22 with “Neutral”. On Monday, September 21 the stock rating was maintained by Credit Suisse with “Outperform”. The firm has “Hold” rating by Jefferies given on Thursday, September 29. The stock has “Underperform” rating by Bernstein on Wednesday, January 11.

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