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

Shares of NetEase, Inc. (NASDAQ:NTES - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $97.41, but opened at $101.75. NetEase shares last traded at $100.69, with a volume of 169,543 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on NTES. Bank of America raised their price objective on NetEase from $120.00 to $122.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Benchmark boosted their price objective on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Barclays raised their target price on shares of NetEase from $82.00 to $104.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. Finally, Morgan Stanley upped their price target on shares of NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. One investment 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $114.57.

NetEase Trading Up 2.4 %

The business has a 50 day simple moving average of $100.41 and a two-hundred day simple moving average of $94.15. The stock has a market cap of $65.54 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 3.37 and a beta of 0.65.

NetEase (NASDAQ:NTES - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $27.16 billion. Research analysts anticipate that NetEase, Inc. will post 6.91 EPS for the current fiscal year.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 1.70%. The ex-dividend date was Thursday, March 6th. NetEase's payout ratio is currently 76.45%.

Institutional Investors Weigh In On NetEase

Several institutional investors and hedge funds have recently made changes to their positions in NTES. TT International Asset Management LTD acquired a new stake in shares of NetEase during the first quarter worth $21,918,000. Blue Trust Inc. raised its stake in NetEase by 36.7% during the first quarter. Blue Trust Inc. now owns 3,094 shares of the technology company's stock worth $318,000 after acquiring an additional 831 shares during the period. Fifth Third Bancorp boosted its stake in NetEase by 2.7% in the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock valued at $542,000 after acquiring an additional 138 shares during the period. Focus Financial Network Inc. grew its holdings in shares of NetEase by 5.6% during the first quarter. Focus Financial Network Inc. now owns 3,763 shares of the technology company's stock valued at $387,000 after purchasing an additional 200 shares during the last quarter. Finally, Moseley Investment Management Inc. bought a new position in shares of NetEase during the first quarter valued at approximately $206,000. 11.07% of the stock is 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.