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

NetEase, Inc. (NASDAQ:NTES) shares gapped down before the market opened 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 traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 29th. Morgan Stanley dropped their price target on NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, HSBC dropped their price target on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $126.00.

NetEase Price Performance

The business has a 50-day moving average of $101.09 and a two-hundred day moving average of $102.61. The company has a market cap of $62.29 billion, a P/E 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 results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Equities analysts anticipate that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

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

Institutional Investors Weigh In On NetEase

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTES. Cambridge Investment Research Advisors Inc. raised its stake in shares of NetEase by 13.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,467 shares of the technology company’s stock worth $648,000 after purchasing an additional 752 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NetEase by 86.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,918 shares of the technology company’s stock worth $1,695,000 after purchasing an additional 7,860 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of NetEase by 202.4% in the third quarter. Mackenzie Financial Corp now owns 50,210 shares of the technology company’s stock worth $4,962,000 after purchasing an additional 33,607 shares during the last quarter. Advisor Partners II LLC raised its stake in shares of NetEase by 21.4% in the third quarter. Advisor Partners II LLC now owns 5,022 shares of the technology company’s stock worth $503,000 after purchasing an additional 885 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of NetEase in the third quarter worth about $426,000. 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.