NetEase (NASDAQ:NTES) Shares Gap Up – Time to Buy?

NetEase, Inc. (NASDAQ:NTES)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $91.29, but opened at $100.00. NetEase shares last traded at $101.98, with a volume of 1,698,618 shares changing hands.

Analyst Ratings Changes

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

NetEase Trading Up 10.6 %

The stock’s 50-day moving average price is $85.85 and its two-hundred day moving average price is $87.66. The stock has a market capitalization of $64.83 billion, a P/E ratio of 17.23, a P/E/G ratio of 3.37 and a beta of 0.57.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Friday, November 29th. NetEase’s dividend payout ratio (DPR) is 29.22%.

Institutional Trading of NetEase

Several hedge funds have recently made changes to their positions in NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 worth $585,227,000 after acquiring an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. boosted its position in NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock worth $242,092,000 after purchasing an additional 1,203,129 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of NetEase by 6.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after purchasing an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd raised its position in shares of 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 purchasing an additional 632,896 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of NetEase by 7.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock valued at $107,130,000 after buying an additional 82,474 shares in the last quarter. 11.07% of the stock is currently 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.