Allianz Asset Management GmbH Sells 829,929 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Allianz Asset Management GmbH significantly reduced its stake in KE Holdings Inc. by selling 829,929 shares, representing an 81.1% decrease, leaving them with 192,929 shares valued at approximately $3.42 million.
• Several other institutional investors increased their stakes in KE Holdings, with UBS AM growing its holdings by 299.4% to over 7.3 million shares, worth about $147.14 million.
• Analysts have mixed forecasts for KE, with a price target ranging from $22.00 to $25.00, and the average rating being a "Moderate Buy" based on several research reports.

Allianz Asset Management GmbH decreased its position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 81.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 192,929 shares of the company's stock after selling 829,929 shares during the quarter. Allianz Asset Management GmbH's holdings in KE were worth $3,423,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in KE by 299.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,323,774 shares of the company's stock worth $147,135,000 after acquiring an additional 5,490,172 shares during the last quarter. Siren L.L.C. grew its holdings in KE by 75.0% during the 1st quarter. Siren L.L.C. now owns 105,000 shares of the company's stock worth $2,109,000 after acquiring an additional 45,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in KE by 13.4% during the 1st quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company's stock worth $14,897,000 after acquiring an additional 87,659 shares during the last quarter. Axiom Investors LLC DE bought a new stake in KE during the 1st quarter worth about $25,547,000. Finally, Acadian Asset Management LLC bought a new stake in KE during the 1st quarter worth about $1,479,000. Institutional investors own 39.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Jefferies Financial Group set a $22.00 price objective on shares of KE and gave the stock a "buy" rating in a report on Tuesday, August 26th. Weiss Ratings reissued a "hold (c+)" rating on shares of KE in a report on Wednesday, October 8th. Barclays decreased their price objective on shares of KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.54.

KE Trading Down 0.2%

KE stock opened at $18.41 on Friday. KE Holdings Inc. Sponsored ADR has a 1 year low of $16.05 and a 1 year high of $25.17. The company has a market cap of $21.92 billion, a PE ratio of 39.16, a PEG ratio of 2.24 and a beta of -0.67. The company's 50-day moving average is $18.81 and its two-hundred day moving average is $18.86.

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.

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