Netease INC (NTES) Shareholder Lazard Asset Management LLC Has Lowered Holding as Valuation Declined

June 16, 2017 - By Hazel Jackson

Lazard Asset Management Llc decreased its stake in Netease Inc (NTES) by 2.82% based on its latest 2016Q4 regulatory filing with the SEC. Lazard Asset Management Llc sold 116,006 shares as the company’s stock declined 3.53% while stock markets rallied. The institutional investor held 4.00M shares of the miscellaneous company at the end of 2016Q4, valued at $861.17 million, down from 4.12M at the end of the previous reported quarter. Lazard Asset Management Llc who had been investing in Netease Inc for a number of months, seems to be less bullish one the $38.35B market cap company. The stock rose 0.53% or $1.56 reaching $294.23. About 503,016 shares traded. NetEase Inc (ADR) (NASDAQ:NTES) has risen 77.85% since June 16, 2016 and is uptrending. It has outperformed by 61.15% the S&P500.

Lazard Asset Management Llc, which manages about $44.86 billion US Long portfolio, upped its stake in Sysco Corp (NYSE:SYY) by 466,137 shares to 901,506 shares, valued at $49.92 million in 2016Q4, according to the filing. It also increased its holding in Cown 3 3/15/19 (Prn) by 3.75M shares in the quarter, for a total of 21.25 million shares, and has risen its stake in Pgt Innovations (NASDAQ:PGTI).

More notable recent NetEase Inc (ADR) (NASDAQ:NTES) news were published by: which released: “Why NetEase, Inc. Surged 20% in February” on March 15, 2017, also with their article: “Why NetEase Inc. Stock Popped Today” published on February 16, 2017, published: “Why NetEase, Inc. Fell 13% in November” on December 15, 2016. More interesting news about NetEase Inc (ADR) (NASDAQ:NTES) were released by: and their article: “Will NetEase Inc Deliver Another Blowout Performance in 2017?” published on March 12, 2017 as well as‘s news article titled: “NetEase Inc (ADR): Tap Into China’s Strong Online Growth with NTES Stock” with publication date: June 08, 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. Standpoint Research upgraded the stock to “Hold” rating in Wednesday, August 26 report. Jefferies initiated NetEase Inc (ADR) (NASDAQ:NTES) on Thursday, September 29 with “Hold” rating. The stock of NetEase Inc (ADR) (NASDAQ:NTES) has “Outperform” rating given on Monday, October 3 by CLSA. The rating was initiated by Brean Capital with “Buy” on Monday, July 18. JP Morgan maintained NetEase Inc (ADR) (NASDAQ:NTES) on Thursday, February 25 with “Overweight” rating. The rating was initiated by Credit Suisse on Friday, August 19 with “Neutral”. The company was maintained on Thursday, November 10 by Morgan Stanley. The firm earned “Underperform” rating on Wednesday, January 11 by Bernstein. The firm has “Buy” rating given on Thursday, May 12 by Nomura. The rating was upgraded by Jefferies to “Buy” on Monday, November 28.

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