NetEase (NASDAQ:NTES) Shares Gap Down – Time to Sell?

NetEase, Inc. (NASDAQ:NTES) shares gapped down before the market opened on Thursday . The stock had previously closed at $103.92, but opened at $100.15. NetEase shares last traded at $99.61, with a volume of 341,916 shares.

Analyst Ratings Changes

Several brokerages recently weighed in on NTES. Morgan Stanley raised shares of NetEase from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $90.00 to $108.00 in a research note on Wednesday, January 8th. Bank of America upped their target price on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday. Benchmark cut their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Citigroup upped their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.71.

NetEase Stock Performance

The stock’s 50-day moving average is $89.96 and its 200 day moving average is $87.92. The stock has a market capitalization of $64.06 billion, a PE ratio of 16.85, a P/E/G ratio of 3.08 and a beta of 0.57.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is 29.22%.

Institutional Trading of NetEase

Large investors have recently bought and sold shares of the business. SYSTM Wealth Solutions LLC boosted its stake in NetEase by 55.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after purchasing an additional 117 shares during the period. Brooklyn Investment Group acquired a new stake in NetEase during the 4th quarter worth $34,000. Ariadne Wealth Management LP acquired a new stake in NetEase during the 2nd quarter worth $35,000. UMB Bank n.a. boosted its stake in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after purchasing an additional 111 shares during the period. Finally, Highline Wealth Partners LLC acquired a new stake in NetEase during the 3rd quarter worth $45,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.