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

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.

Analyst Ratings Changes

NTES has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Morgan Stanley raised shares of NetEase from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $108.00 in a research report on Wednesday, January 8th. Finally, Benchmark dropped 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.43.

NetEase Price Performance

The company has a 50 day moving average of $89.12 and a two-hundred day moving average of $87.72. The company has a market capitalization of $61.67 billion, a PE ratio of 16.22, a PEG ratio of 3.53 and a beta of 0.57.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.81%. NetEase’s payout ratio is 29.22%.

Institutional Investors Weigh In On NetEase

Several hedge funds have recently bought and sold shares of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NetEase by 13,747.9% during the third 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 valued at $585,227,000 after purchasing an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. increased its position in NetEase by 86.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after buying an additional 1,203,129 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in 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 buying an additional 103,102 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in 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 buying an additional 632,896 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of NetEase by 7.8% in 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 last quarter. Institutional investors own 11.07% of the company’s stock.

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.