Fmr LLC Lowers Stake in KE Holdings Inc. (NYSE:BEKE)

Fmr LLC cut its stake in shares of KE Holdings Inc. (NYSE:BEKE) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,321,847 shares of the company’s stock after selling 240,011 shares during the period. Fmr LLC owned approximately 0.35% of KE worth $86,048,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd increased its position in KE by 0.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 701,220 shares of the company’s stock worth $13,954,000 after purchasing an additional 4,616 shares during the period. Charles Schwab Investment Management Inc. increased its stake in KE by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 994,515 shares of the company’s stock valued at $19,801,000 after purchasing an additional 103,720 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in KE during the third quarter worth $2,328,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in KE during the third quarter worth $14,019,000. Finally, Jennison Associates LLC grew its holdings in KE by 1.5% in the third quarter. Jennison Associates LLC now owns 1,604,248 shares of the company’s stock valued at $31,941,000 after purchasing an additional 24,166 shares during the last quarter. 39.34% of the stock is owned by institutional investors and hedge funds.

KE Stock Performance

Shares of BEKE opened at $18.82 on Friday. The company has a market capitalization of $22.74 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 4.47 and a beta of -0.77. KE Holdings Inc. has a 1 year low of $12.44 and a 1 year high of $26.05. The company’s 50 day simple moving average is $21.10 and its 200 day simple moving average is $17.19.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BEKE. Barclays upped their price target on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Citigroup assumed coverage on KE in a research note on Tuesday, September 10th. They issued a “buy” rating and a $23.80 target price on the stock. Finally, Bank of America raised KE from a “neutral” rating to a “buy” rating and raised their price target for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th.

KE Company Profile

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.