NetEase (NASDAQ:NTES) Shares Gap Down - What's Next?

NetEase, Inc. (NASDAQ:NTES - Get Free Report) 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 Upgrades and Downgrades

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

NetEase Price Performance

The firm has a market cap of $64.06 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 3.08 and a beta of 0.57. The stock's fifty day moving average price is $89.96 and its 200-day moving average price is $87.92.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.435 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.74%. NetEase's dividend payout ratio is presently 29.22%.

Institutional Investors Weigh In On NetEase

Hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in NetEase by 13,747.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company's stock valued at $585,227,000 after purchasing an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. raised its position in shares of NetEase by 86.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company's stock valued at $242,092,000 after buying an additional 1,203,129 shares during the period. Point72 Hong Kong Ltd lifted its holdings in NetEase by 109.0% in the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company's stock valued at $115,969,000 after acquiring an additional 632,896 shares during the last quarter. Fisher Asset Management LLC grew its position in NetEase by 7.8% in the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company's stock worth $107,130,000 after acquiring an additional 82,474 shares during the period. Finally, Wellington Management Group LLP increased its stake in NetEase by 1.1% during the third quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company's stock worth $95,400,000 after acquiring an additional 10,920 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Company Profile

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.