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

NetEase, Inc. (NASDAQ:NTES)’s share price gapped up prior to trading on Monday . The stock had previously closed at $138.05, but opened at $142.65. NetEase shares last traded at $145.0420, with a volume of 145,931 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Arete upgraded shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Wednesday, September 3rd. The Goldman Sachs Group set a $161.00 price objective on shares of NetEase and gave the company a “buy” rating in a report on Monday, September 15th. Zacks Research lowered NetEase from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Arete Research raised NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Barclays set a $135.00 price objective on NetEase and gave the company an “equal weight” rating in a report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.10.

NetEase Price Performance

The firm’s fifty day simple moving average is $144.39 and its 200 day simple moving average is $137.27. The company has a market capitalization of $90.16 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.91 and a beta of 0.68.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, December 5th. NetEase’s dividend payout ratio is currently 28.99%.

Institutional Investors Weigh In On NetEase

Institutional investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in NetEase by 68,860.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock valued at $1,299,684,000 after acquiring an additional 8,538,717 shares during the period. Ninety One UK Ltd grew its holdings in NetEase by 0.5% in the 3rd quarter. Ninety One UK Ltd now owns 6,296,150 shares of the technology company’s stock valued at $956,952,000 after buying an additional 28,381 shares in the last quarter. Dodge & Cox increased its position in NetEase by 5.8% during the first quarter. Dodge & Cox now owns 2,803,664 shares of the technology company’s stock worth $288,553,000 after purchasing an additional 153,788 shares during the last quarter. Hhlr Advisors LTD. raised its position in shares of NetEase by 3.1% during the 1st quarter. Hhlr Advisors LTD. now owns 2,668,697 shares of the technology company’s stock valued at $274,662,000 after buying an additional 79,754 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of NetEase by 111.7% in the 1st quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock valued at $204,661,000 after purchasing an additional 1,049,023 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.