As Netease (NTES) Stock Price Declined, Overlook Holdings LTD Cut Its Holding

September 14, 2018 - By Catherine Diaz

Overlook Holdings Ltd decreased its stake in Netease (NTES) by 15.29% based on its latest 2018Q2 regulatory filing with the SEC. Overlook Holdings Ltd sold 136,578 shares as the company’s stock declined 24.93% while stock markets rallied. The institutional investor held 756,622 shares of the miscellaneous company at the end of 2018Q2, valued at $191.20 million, down from 893,200 at the end of the previous reported quarter. Overlook Holdings Ltd who had been investing in Netease for a number of months, seems to be less bullish one the $26.45B market cap company. The stock decreased 0.19% or $0.39 during the last trading session, reaching $201.37. About 171,846 shares traded. NetEase, Inc. (NASDAQ:NTES) has declined 29.39% since September 14, 2017 and is downtrending. It has underperformed by 45.01% the S&P500.

Analysts await NetEase, Inc. (NASDAQ:NTES) to report earnings on November, 21. They expect $1.88 earnings per share, down 34.27 % or $0.98 from last year’s $2.86 per share. NTES’s profit will be $246.90 million for 26.78 P/E if the $1.88 EPS becomes a reality. After $2.44 actual earnings per share reported by NetEase, Inc. for the previous quarter, Wall Street now forecasts -22.95 % negative EPS growth.

More news for NetEase, Inc. (NASDAQ:NTES) were recently published by: Seekingalpha.com, which released: “Tencent-backed news app Qutoutiao seeks to list 16M ADS” on September 04, 2018. Nasdaq.com‘s article titled: “3 Reasons NetEase Stock Can Bounce Back” and published on September 04, 2018 is yet another important article.

NetEase, Inc. (NASDAQ:NTES) Ratings Coverage

Among 8 analysts covering NetEase Inc (NASDAQ:NTES), 5 have Buy rating, 1 Sell and 2 Hold. Therefore 63% are positive. NetEase Inc had 10 analyst reports since April 10, 2018 according to SRatingsIntel. Benchmark maintained it with “Buy” rating and $34000 target in Thursday, May 17 report. The stock of NetEase, Inc. (NASDAQ:NTES) has “Equal-Weight” rating given on Thursday, August 30 by Barclays Capital. Barclays Capital maintained NetEase, Inc. (NASDAQ:NTES) rating on Monday, July 30. Barclays Capital has “Equal-Weight” rating and $275 target. Jefferies maintained it with “Hold” rating and $31000 target in Tuesday, April 10 report. The firm earned “Buy” rating on Thursday, May 17 by Daiwa Securities. The firm has “Buy” rating given on Friday, August 10 by Nomura. The firm earned “Overweight” rating on Tuesday, July 3 by JP Morgan. CLSA upgraded the shares of NTES in report on Wednesday, April 25 to “Buy” rating. The firm has “Overweight” rating given on Friday, August 10 by JP Morgan.

NetEase, Inc. (NASDAQ:NTES) Ratings Chart

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