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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup raised their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays lowered their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Bank of America lowered 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. Finally, Jefferies Financial Group cut their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two research 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 a consensus target price of $107.29.

NetEase Stock Up 0.4 %

The firm has a 50 day moving average price of $85.99 and a 200 day moving average price of $87.74. The stock has a market capitalization of $62.23 billion, a PE ratio of 16.15, 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 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 29th. NetEase’s dividend payout ratio is 29.22%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 purchasing an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. grew its holdings in shares of NetEase by 86.8% in the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after acquiring an additional 1,203,129 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of NetEase by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock valued at $161,789,000 after acquiring an additional 103,102 shares during the last quarter. Point72 Hong Kong Ltd increased its position in shares of NetEase by 109.0% during 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 acquiring an additional 632,896 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in NetEase by 7.8% during the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after acquiring an additional 82,474 shares during the period. 11.07% of the stock is owned by institutional investors.

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.