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

NetEase, Inc. (NASDAQ:NTES - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $96.28, but opened at $93.96. NetEase shares last traded at $94.43, with a volume of 109,133 shares trading hands.

Analyst Ratings Changes

NTES has been the subject of several research analyst reports. Jefferies Financial Group dropped their target price on shares of NetEase from $126.00 to $103.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Bank of America lowered their price objective on NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a report on Friday, August 23rd. Benchmark reduced their target price on NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, November 15th. StockNews.com downgraded NetEase from a "strong-buy" rating to a "buy" rating in a report on Friday, December 6th. Finally, Barclays dropped their price target on NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.29.

NetEase Trading Down 0.9 %

The firm has a market capitalization of $61.29 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 3.58 and a beta of 0.57. The business has a 50-day moving average price of $85.60 and a two-hundred day moving average price of $87.90.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Friday, November 29th. NetEase's payout ratio is 29.22%.

Hedge Funds Weigh In On NetEase

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SYSTM Wealth Solutions LLC boosted its position 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 acquiring an additional 117 shares during the period. Ariadne Wealth Management LP acquired a new stake in NetEase in the second quarter worth about $35,000. Highline Wealth Partners LLC bought a new position in NetEase in the 3rd quarter valued at about $45,000. RPg Family Wealth Advisory LLC acquired a new position in NetEase during the 3rd quarter valued at about $70,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of NetEase during the 3rd quarter worth about $76,000. 11.07% of the stock is owned by institutional investors.

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.