NetEase (NASDAQ:NTES) Shares Gap Up - Here's What Happened

NetEase, Inc. (NASDAQ:NTES - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $91.11, but opened at $94.69. NetEase shares last traded at $94.28, with a volume of 610,074 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NTES shares. Benchmark dropped their target price on 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 shares of NetEase from a "strong-buy" rating to a "buy" rating in a report on Friday, December 6th. Citigroup increased their price target on NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Morgan Stanley raised NetEase from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $90.00 to $108.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $108.43.

NetEase Trading Up 3.4 %

The stock has a 50-day moving average price of $88.50 and a 200 day moving average price of $87.73. The stock has a market capitalization of $60.52 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 3.53 and a beta of 0.57.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.435 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.85%. NetEase's dividend payout ratio (DPR) is 29.22%.

Hedge Funds Weigh In On NetEase

A number of large investors have recently added to or reduced their stakes in NTES. APEIRON CAPITAL Ltd increased its stake in shares of NetEase by 20.5% during the fourth quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company's stock worth $11,537,000 after purchasing an additional 22,000 shares in the last quarter. Franklin Resources Inc. increased its stake in NetEase by 7.9% during the 3rd quarter. Franklin Resources Inc. now owns 6,915 shares of the technology company's stock worth $588,000 after buying an additional 507 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of NetEase during the third quarter valued at approximately $4,138,000. Sanctuary Advisors LLC lifted its position in shares of NetEase by 5.6% in the third quarter. Sanctuary Advisors LLC now owns 13,245 shares of the technology company's stock valued at $1,145,000 after acquiring an additional 701 shares in the last quarter. Finally, Advisory Resource Group boosted its stake in shares of NetEase by 22.0% in the third quarter. Advisory Resource Group now owns 12,626 shares of the technology company's stock worth $1,181,000 after acquiring an additional 2,281 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.