National Bank of Canada FI Invests $54.76 Million in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• National Bank of Canada FI acquired 2,725,700 shares of KE Holdings Inc., valued at approximately $54.76 million, increasing their stake to about 0.23% of the company.
• In addition to National Bank, several hedge funds, including GAMMA Investing LLC and FNY Investment Advisers LLC, made new investments in KE Holdings during the first quarter of this year.
• KE Holdings Inc. has recently seen mixed analyst reports, with one downgrade to "hold" and several upgrades leading to an average rating of "Moderate Buy" and a price target of $27.16.

National Bank of Canada FI purchased a new position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,725,700 shares of the company's stock, valued at approximately $54,759,000. National Bank of Canada FI owned 0.23% of KE at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of KE by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 25,331,813 shares of the company's stock worth $508,916,000 after buying an additional 919,420 shares during the last quarter. Krane Funds Advisors LLC grew its position in shares of KE by 12.9% in the 1st quarter. Krane Funds Advisors LLC now owns 14,915,812 shares of the company's stock worth $299,659,000 after buying an additional 1,707,067 shares during the last quarter. Hhlr Advisors LTD. grew its position in shares of KE by 3.6% in the 4th quarter. Hhlr Advisors LTD. now owns 11,261,276 shares of the company's stock worth $207,433,000 after buying an additional 392,588 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of KE by 111,822,650.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company's stock worth $205,978,000 after buying an additional 11,182,265 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of KE by 3,203.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock worth $160,769,000 after buying an additional 7,760,169 shares during the last quarter. 39.34% of the stock is owned by hedge funds and other institutional investors.

KE Trading Up 0.3%

KE stock traded up $0.06 during mid-day trading on Thursday, hitting $18.44. The company had a trading volume of 3,625,532 shares, compared to its average volume of 5,239,493. The stock's 50 day moving average price is $18.49 and its two-hundred day moving average price is $19.52. KE Holdings Inc. Sponsored ADR has a 12 month low of $13.28 and a 12 month high of $26.05. The company has a market capitalization of $21.96 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 1.37 and a beta of -0.76.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BEKE shares. Citigroup cut their price objective on KE from $25.80 to $24.80 and set a "buy" rating on the stock in a research report on Friday, May 16th. Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. dropped their price target on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, UBS Group upgraded KE from a "neutral" rating to a "buy" rating and lifted their price target for the company from $22.10 to $23.00 in a research report on Friday, May 16th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.30.

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.