Allianz Asset Management GmbH Reduces Holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Allianz Asset Management GmbH trimmed its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 45.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,022,858 shares of the company's stock after selling 852,642 shares during the period. Allianz Asset Management GmbH owned 0.08% of KE worth $20,603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BEKE. Ping Capital Management Inc. lifted its position in KE by 15.6% during the 1st quarter. Ping Capital Management Inc. now owns 37,000 shares of the company's stock valued at $743,000 after acquiring an additional 5,000 shares during the period. Massachusetts Financial Services Co. MA increased its stake in KE by 55.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 133,280 shares of the company's stock valued at $2,678,000 after purchasing an additional 47,562 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in KE by 290.8% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 232,557 shares of the company's stock valued at $4,672,000 after purchasing an additional 173,042 shares in the last quarter. Cerity Partners LLC bought a new stake in KE during the 1st quarter valued at about $290,000. Finally, Infini Capital Management Ltd bought a new stake in KE during the 1st quarter valued at about $3,520,000. 39.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BEKE shares. Citigroup reduced their price objective on shares of KE from $25.80 to $24.80 and set a "buy" rating for the company in a research note on Friday, May 16th. Wall Street Zen lowered shares of KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and raised their price objective for the company from $22.10 to $23.00 in a research note on Friday, May 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.16.

KE Stock Performance

Shares of BEKE stock traded down $0.02 during trading hours on Monday, reaching $19.50. The company had a trading volume of 832,369 shares, compared to its average volume of 8,977,937. The business has a fifty day moving average price of $18.59 and a 200-day moving average price of $19.43. KE Holdings Inc. Sponsored ADR has a one year low of $12.92 and a one year high of $26.05. The firm has a market cap of $23.56 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 1.45 and a beta of -0.76.

KE 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.