NetEase (NASDAQ:NTES) Shares Gap Down – Time to Sell?

NetEase, Inc. (NASDAQ:NTES)’s share price 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 traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NTES shares. Barclays cut their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Benchmark cut their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. 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 research note on Thursday, August 22nd. Citigroup lifted their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Bank of America lowered their price target on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Stock Performance

The stock’s 50 day moving average is $85.74 and its two-hundred day moving average is $87.87. The stock has a market capitalization of $61.10 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

Institutional Investors Weigh In On NetEase

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Guinness Asset Management LTD lifted its stake in shares of NetEase by 16.7% in the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after buying an additional 12,410 shares in the last quarter. Legacy Capital Group California Inc. purchased a new stake in NetEase in the 2nd quarter valued at $267,000. Assetmark Inc. increased its stake in shares of NetEase by 27.3% in the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock worth $3,597,000 after acquiring an additional 8,248 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NetEase by 15.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock worth $54,502,000 after acquiring 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 2nd quarter. Van ECK Associates Corp now owns 593,423 shares of the technology company’s stock worth $56,719,000 after acquiring an additional 12,908 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.