NetEase (NASDAQ:NTES) Shares Gap Up – Here’s What Happened

Shares of NetEase, Inc. (NASDAQ:NTES) gapped up prior to trading on Monday . The stock had previously closed at $91.11, but opened at $94.69. NetEase shares last traded at $94.28, with a volume of 610,074 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley upgraded NetEase from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $108.00 in a research report on Wednesday, January 8th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark cut their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $108.43.

NetEase Price Performance

The stock has a 50-day moving average price of $88.50 and a 200 day moving average price of $87.73. The company has a market cap of $60.11 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s payout ratio is currently 29.22%.

Institutional Investors Weigh In On NetEase

Large investors have recently made changes to their positions in the stock. APEIRON CAPITAL Ltd lifted its position in NetEase by 20.5% in the 4th quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock valued at $11,537,000 after acquiring an additional 22,000 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 position in shares of NetEase during the third quarter worth about $4,138,000. Sanctuary Advisors LLC boosted its position in shares of NetEase by 5.6% during the third quarter. Sanctuary Advisors LLC now owns 13,245 shares of the technology company’s stock worth $1,145,000 after buying an additional 701 shares during the period. Finally, Advisory Resource Group grew its holdings in shares of NetEase by 22.0% during the third 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 in the last quarter. Institutional investors 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.