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

NetEase, Inc. (NASDAQ:NTES)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $137.15, but opened at $133.31. NetEase shares last traded at $132.2350, with a volume of 194,058 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $170.00 target price on shares of NetEase in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Barclays set a $135.00 target price on shares of NetEase and gave the company an “equal weight” rating in a research report on Friday, November 21st. Benchmark lifted their price objective on NetEase from $145.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Finally, Citigroup restated a “buy” rating on shares of NetEase in a research report on Friday, November 21st. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.13.

NetEase Price Performance

The business’s 50 day moving average price is $138.97 and its 200 day moving average price is $139.99. The firm has a market cap of $83.52 billion, a PE ratio of 16.83, a PEG ratio of 1.54 and a beta of 0.67.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, December 5th. NetEase’s dividend payout ratio is 28.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. NewSquare Capital LLC lifted its position in NetEase by 137.2% during the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after buying an additional 107 shares in the last quarter. Private Trust Co. NA increased its position in shares of NetEase by 266.0% during the second quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after acquiring an additional 141 shares during the last quarter. USA Financial Formulas purchased a new position in shares of NetEase during the 2nd quarter worth approximately $30,000. Richardson Financial Services Inc. purchased a new stake in NetEase during the 2nd quarter worth approximately $33,000. Finally, Cornerstone Planning Group LLC purchased a new stake in shares of NetEase during the third quarter worth $33,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.