NetEase (NASDAQ:NTES) Shares Gap Down – Should You Sell?

Shares of NetEase, Inc. (NASDAQ:NTES) 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 changing hands.

Analyst Upgrades and Downgrades

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

NetEase Trading Down 1.2 %

The company’s fifty day moving average is $97.15 and its two-hundred day moving average is $89.30. The stock has a market cap of $66.46 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 3.45 and a beta of 0.58.

Institutional Trading of NetEase

Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in NetEase by 27.3% in the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after purchasing an additional 8,248 shares during the last quarter. WT Asset Management Ltd purchased a new position in NetEase in the 4th quarter valued at approximately $2,624,000. SG Americas Securities LLC purchased a new position in NetEase in the 4th quarter valued at approximately $654,000. State of New Jersey Common Pension Fund D lifted its position in shares of NetEase by 87.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 75,282 shares of the technology company’s stock worth $7,040,000 after purchasing an additional 35,031 shares during the last quarter. Finally, APEIRON CAPITAL Ltd increased its stake in NetEase by 20.5% in the fourth quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock valued at $11,537,000 after purchasing an additional 22,000 shares during the period. 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.