NetEase (NASDAQ:NTES) Shares Gap Down – Time to Sell?

NetEase, Inc. (NASDAQ:NTES)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $104.17, but opened at $99.12. NetEase shares last traded at $100.27, with a volume of 428,729 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NTES. Morgan Stanley boosted their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Benchmark reduced their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Bank of America boosted their target price on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Citigroup upped their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, NetEase has an average rating of “Moderate Buy” and an average target price of $110.00.

NetEase Trading Down 5.2 %

The stock has a market cap of $63.41 billion, a PE ratio of 16.75, a PEG ratio of 3.48 and a beta of 0.58. The firm’s 50-day moving average price is $97.51 and its two-hundred day moving average price is $89.56.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.73 by $0.14. NetEase had a return on equity of 20.82% and a net margin of 26.02%. On average, analysts anticipate that NetEase, Inc. will post 6.06 earnings per share for the current year.

Institutional Investors Weigh In On NetEase

Several institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in shares of NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after purchasing an additional 152 shares during the last quarter. Brooklyn Investment Group acquired a new position in NetEase during the fourth quarter valued at $34,000. UMB Bank n.a. boosted its holdings in NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after purchasing an additional 111 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in NetEase during the 3rd quarter worth about $45,000. Finally, Live Oak Investment Partners purchased a new stake in shares of NetEase in the fourth quarter worth about $62,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.