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

NetEase, Inc. (NASDAQ:NTES) gapped down before the market opened on Thursday . The stock had previously closed at $109.14, but opened at $104.87. NetEase shares last traded at $103.70, with a volume of 480,752 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NTES shares. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Benchmark lowered their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Bank of America increased their price target on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Morgan Stanley raised their target price on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Citigroup raised their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

NetEase Trading Down 1.2 %

The firm has a market capitalization of $66.46 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58. The company has a 50-day moving average of $97.15 and a 200-day moving average of $89.30.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Assetmark Inc. raised its position in NetEase by 27.3% during the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock worth $3,597,000 after purchasing an additional 8,248 shares during the last quarter. WT Asset Management Ltd bought a new position in NetEase during the 4th quarter worth $2,624,000. SG Americas Securities LLC bought a new position in NetEase during the 4th quarter worth $654,000. State of New Jersey Common Pension Fund D grew its stake in shares of NetEase by 87.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 75,282 shares of the technology company’s stock valued at $7,040,000 after buying an additional 35,031 shares during the period. Finally, APEIRON CAPITAL Ltd raised its holdings in shares of NetEase by 20.5% in the 4th quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock worth $11,537,000 after purchasing an additional 22,000 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.