KE Holdings Inc. Sponsored ADR (NYSE:BEKE) Stock Has Average Price Target of $23.64

Key Points

• Analyst sentiment is bullish: Eight analysts give KE Holdings an average “Buy” rating, with an average 12-month price target of $23.64 versus the stock’s reported $17.32 opening price.
• Quarterly results exceeded expectations: KE reported earnings of $0.42 per share, topping the $0.31 consensus estimate, while revenue reached $3.61 billion against expectations of $3.59 billion.
• Insiders sold substantial holdings: CEO Yongdong Peng sold shares worth approximately $84.5 million, and director Yigang Shan sold about $18.1 million; insiders collectively own 6.80% of the company.

Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Get Free Report) have been assigned an average rating of "Buy" from the eight analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $23.64.

A number of equities analysts have recently weighed in on BEKE shares. Morgan Stanley reiterated an "overweight" rating on shares of KE in a report on Friday, August 21st. Zacks Research raised shares of KE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 26th. CLSA assumed coverage on shares of KE in a report on Wednesday, August 19th. They set an "outperform" rating and a $23.80 price target for the company. Weiss Ratings upgraded shares of KE from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, October 9th. Finally, Wall Street Zen raised shares of KE from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th.

Insider Buying and Selling

In other KE news, CEO Yongdong Peng sold 16,033,983 shares of the stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $5.27, for a total value of $84,499,090.41. Following the completion of the sale, the chief executive officer owned 62,824,251 shares in the company, valued at $331,083,802.77. This represents a 20.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yigang Shan sold 3,326,670 shares of KE stock in a transaction on Monday, September 21st. The shares were sold at an average price of $5.44, for a total transaction of $18,097,084.80. Following the sale, the director directly owned 53,868,189 shares of the company's stock, valued at $293,042,948.16. This trade represents a 5.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KE

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in shares of KE by 16.0% during the second quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company's stock worth $129,536,000 after acquiring an additional 1,231,445 shares in the last quarter. Baird Financial Group Inc. grew its stake in KE by 5.8% in the second quarter. Baird Financial Group Inc. now owns 5,942,507 shares of the company's stock valued at $86,345,000 after purchasing an additional 324,707 shares in the last quarter. Perseverance Asset Management International grew its stake in KE by 20.4% in the first quarter. Perseverance Asset Management International now owns 1,391,439 shares of the company's stock valued at $20,830,000 after purchasing an additional 236,000 shares in the last quarter. Carrhae Capital LLP acquired a new position in KE in the 2nd quarter worth about $10,138,000. Finally, Robeco Institutional Asset Management B.V. increased its position in KE by 56.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 630,660 shares of the company's stock worth $10,627,000 after purchasing an additional 227,616 shares during the last quarter. 39.34% of the stock is owned by institutional investors and hedge funds.

KE Stock Performance

Shares of BEKE stock opened at $17.32 on Thursday. The company has a market capitalization of $19.38 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 0.59 and a beta of -0.26. KE has a 1-year low of $13.81 and a 1-year high of $19.88. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.01. The stock's fifty day simple moving average is $17.16 and its 200-day simple moving average is $16.68.

KE (NYSE:BEKE - Get Free Report) last announced its quarterly earnings data on Friday, August 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.11. KE had a return on equity of 7.62% and a net margin of 5.38%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.59 billion. On average, sell-side analysts predict that KE will post 1.03 earnings per share for the current fiscal year.

KE Company Profile

KE Holdings Inc, also known as Beike, operates a technology-driven housing-services platform in China. The company connects consumers, housing agents, property developers and other service providers through online and offline channels.

Its business includes brokerage services for existing-home and new-home transactions, residential rentals, and related housing services. KE Holdings also provides home renovation and furnishing services, property management, and other services designed to support consumers throughout the residential real estate lifecycle.

The company's platform supports a network of agents and stores and uses data, digital tools and standardized operating processes to facilitate property searches, transactions and related services.

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