NetEase (NASDAQ:NTES) Shares Gap Down – What’s Next?

NetEase, Inc. (NASDAQ:NTES) 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 changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NTES shares. Bank of America dropped their target price on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group lowered their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Benchmark cut their price target on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Citigroup raised their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, NetEase presently has a consensus rating of “Moderate Buy” and an average price target of $107.29.

NetEase Trading Down 0.9 %

The company has a market cap of $61.29 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57. The company has a 50 day moving average price of $85.60 and a 200-day moving average price of $87.88.

NetEase Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Guinness Asset Management LTD lifted its stake in shares of NetEase by 16.7% in the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock valued at $8,111,000 after acquiring an additional 12,410 shares during the last quarter. Legacy Capital Group California Inc. bought a new position in NetEase in the second quarter valued at about $267,000. Assetmark Inc. boosted its stake in shares of NetEase by 27.3% during the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after purchasing an additional 8,248 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NetEase by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock worth $54,502,000 after purchasing an additional 76,446 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of NetEase by 2.2% in the second quarter. Van ECK Associates Corp now owns 593,423 shares of the technology company’s stock valued at $56,719,000 after buying an additional 12,908 shares during the period. Institutional investors 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.