Assenagon Asset Management S.A. Sells 3,165,354 Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Assenagon Asset Management S.A. trimmed its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 98.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,099 shares of the company's stock after selling 3,165,354 shares during the quarter. Assenagon Asset Management S.A.'s holdings in KE were worth $926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BEKE. SBI Securities Co. Ltd. acquired a new position in KE in the 4th quarter valued at $30,000. GAMMA Investing LLC bought a new stake in shares of KE in the first quarter valued at about $34,000. Principal Securities Inc. grew its stake in shares of KE by 411.9% in the fourth quarter. Principal Securities Inc. now owns 2,068 shares of the company's stock valued at $38,000 after acquiring an additional 1,664 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of KE by 42.3% in the fourth quarter. Rakuten Securities Inc. now owns 4,762 shares of the company's stock valued at $88,000 after acquiring an additional 1,416 shares in the last quarter. Finally, State of Wyoming bought a new position in KE during the fourth quarter worth about $100,000. 39.34% of the stock is currently owned by institutional investors and hedge funds.

KE Stock Performance

Shares of KE stock traded down $0.13 on Friday, reaching $18.00. 11,114,276 shares of the stock were exchanged, compared to its average volume of 9,650,526. The firm's 50 day moving average is $19.35 and its 200-day moving average is $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 $21.75 billion, a PE ratio of 33.96, a P/E/G ratio of 1.23 and a beta of -0.76.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BEKE. Morgan Stanley boosted their price objective on shares of KE from $19.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, March 19th. Citigroup dropped their price target on shares of KE from $25.80 to $24.80 and set a "buy" rating for the company in a research report on Friday, May 16th. Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a research report on Sunday. UBS Group upgraded KE from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $22.10 to $23.00 in a research note on Friday, May 16th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of KE in a report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, KE has a consensus rating of "Moderate Buy" and an average price target of $27.16.

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.