NetEase (NASDAQ:NTES) Shares Gap Down to $101.86

NetEase, Inc. (NASDAQ:NTES)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $101.86, but opened at $97.53. NetEase shares last traded at $97.45, with a volume of 495,638 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NTES shares. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 29th. HSBC cut their price objective on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Finally, Morgan Stanley cut their price objective on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, NetEase presently has a consensus rating of “Buy” and a consensus price target of $126.00.

NetEase Stock Down 5.2 %

The business’s fifty day moving average is $101.09 and its 200-day moving average is $102.61. The stock has a market capitalization of $62.29 billion, a PE ratio of 15.32, a P/E/G ratio of 0.94 and a beta of 0.58.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.20). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.96 billion. As a group, sell-side analysts anticipate that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $1.08 per share. This is an increase from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a yield of 4.47%. The ex-dividend date was Wednesday, March 13th. NetEase’s payout ratio is currently 68.09%.

Institutional Investors Weigh In On NetEase

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its position in shares of NetEase by 451.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock worth $47,647,000 after purchasing an additional 418,677 shares in the last quarter. WT Asset Management Ltd lifted its position in shares of NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock worth $92,851,000 after purchasing an additional 789,499 shares in the last quarter. FDx Advisors Inc. lifted its position in shares of NetEase by 11.6% during the third quarter. FDx Advisors Inc. now owns 8,352 shares of the technology company’s stock worth $837,000 after purchasing an additional 871 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of NetEase during the third quarter worth $12,017,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of NetEase during the third quarter worth $1,102,000. 11.07% of the stock is currently owned by hedge funds and other 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.