NetEase (NASDAQ:NTES) Shares Gap Down – Should You 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.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Jefferies Financial Group decreased their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Bank of America lowered their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Barclays reduced their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, August 26th. Benchmark decreased their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average target price of $107.29.

NetEase Stock Down 0.9 %

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

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is 29.22%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its stake in NetEase by 7.9% in the third quarter. Franklin Resources Inc. now owns 6,915 shares of the technology company’s stock valued at $588,000 after purchasing an additional 507 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of NetEase in the 3rd quarter valued at about $4,138,000. Sanctuary Advisors LLC increased its position in NetEase by 5.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,245 shares of the technology company’s stock valued at $1,145,000 after buying an additional 701 shares in the last quarter. Advisory Resource Group raised its stake in NetEase by 22.0% during the 3rd quarter. Advisory Resource Group now owns 12,626 shares of the technology company’s stock worth $1,181,000 after buying an additional 2,281 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in NetEase in the third quarter worth approximately $11,636,000. 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.