Lazard Asset Management LLC Has Trimmed Netease INC (NTES) Stake by $24.94 Million; Shares Declined

June 16, 2017 - By Marie Mckinney

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 4.00 million shares of the miscellaneous company at the end of 2016Q4, valued at $861.17M, 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 $38.35 billion 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 $44.86B US Long portfolio, upped its stake in Ishr Msci Em (EEM) by 209,778 shares to 977,160 shares, valued at $34.21 million in 2016Q4, according to the filing. It also increased its holding in Costco Whole (NASDAQ:COST) by 55,928 shares in the quarter, for a total of 532,978 shares, and has risen its stake in Deckers Outdoor (NYSE:DECK).

More notable recent NetEase Inc (ADR) (NASDAQ:NTES) news were published by: Fool.com which released: “Why NetEase, Inc. Fell 13% in November” on December 15, 2016, also Fool.com with their article: “Will NetEase Inc Deliver Another Blowout Performance in 2017?” published on March 12, 2017, Fool.com published: “Why NetEase Inc. Stock Popped Today” on February 16, 2017. More interesting news about NetEase Inc (ADR) (NASDAQ:NTES) were released by: Investorplace.com and their article: “NetEase Inc (ADR): Tap Into China’s Strong Online Growth with NTES Stock” published on June 08, 2017 as well as Fool.com‘s news article titled: “Why NetEase, Inc. Surged 20% in February” with publication date: March 15, 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. Credit Agricole downgraded NetEase Inc (ADR) (NASDAQ:NTES) on Thursday, February 25 to “Underperform” rating. The stock of NetEase Inc (ADR) (NASDAQ:NTES) has “Buy” rating given on Wednesday, November 25 by Goldman Sachs. The stock of NetEase Inc (ADR) (NASDAQ:NTES) earned “Overweight” rating by Morgan Stanley on Thursday, November 10. The firm has “Outperform” rating by CLSA given on Monday, October 3. The stock of NetEase Inc (ADR) (NASDAQ:NTES) has “Outperform” rating given on Wednesday, September 28 by Macquarie Research. The rating was initiated by Credit Suisse on Friday, August 19 with “Neutral”. On Wednesday, August 12 the stock rating was upgraded by Vetr to “Hold”. The firm earned “Hold” rating on Tuesday, August 25 by Zacks. The rating was maintained by Credit Suisse on Monday, September 21 with “Outperform”. The rating was upgraded by CLSA to “Buy” on Wednesday, January 4.

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