NetEase (NASDAQ:NTES) Stock Price Down 6.8% – Here’s What Happened

NetEase, Inc. (NASDAQ:NTES)’s share price fell 6.8% during mid-day trading on Monday . The stock traded as low as $89.22 and last traded at $92.16. 989,070 shares were traded during mid-day trading, a decline of 37% from the average session volume of 1,582,045 shares. The stock had previously closed at $98.86.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America lifted their price target on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Benchmark boosted their target price on NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 21st. Barclays upped their target price on NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Finally, Morgan Stanley lifted their price target on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. 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, NetEase has a consensus rating of “Moderate Buy” and a consensus price target of $114.57.

NetEase Stock Up 2.6 %

The stock has a market cap of $60.21 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 3.37 and a beta of 0.65. The stock has a fifty day moving average of $101.76 and a 200-day moving average of $93.90.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. Equities research analysts forecast that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Dividend Announcement

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 $0.435 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.74 annualized dividend and a yield of 1.86%. NetEase’s dividend payout ratio is currently 76.45%.

Institutional Trading of NetEase

Several hedge funds have recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after purchasing an additional 111 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in NetEase by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock worth $641,000 after acquiring an additional 114 shares during the period. Brighton Jones LLC raised its position in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after acquiring an additional 117 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after acquiring an additional 152 shares during the period. Finally, State Street Corp boosted its position in shares of NetEase by 0.3% during the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after purchasing an additional 156 shares in 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.