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

NetEase, Inc. (NASDAQ:NTES) shares gapped down before the market opened on Thursday . The stock had previously closed at $109.14, but opened at $104.87. NetEase shares last traded at $103.70, with a volume of 480,752 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NTES shares. Bank of America lifted their target price on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Benchmark dropped their target price on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Citigroup lifted their target price on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Morgan Stanley lifted their target price on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

NetEase Stock Down 4.5 %

The firm has a market cap of $66.90 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 3.45 and a beta of 0.58. The stock has a 50 day moving average of $96.62 and a 200 day moving average of $89.11.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. UMB Bank n.a. raised its stake in NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after acquiring an additional 111 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of NetEase by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock worth $641,000 after purchasing an additional 114 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of NetEase by 0.3% during the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after purchasing an additional 156 shares during the last quarter. Institutional investors and hedge funds 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.