BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 22,200 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• The British Columbia Investment Management Corp increased its stake in KE Holdings Inc. by 8.9% during the first quarter, now holding a total of 271,950 shares valued at approximately $5.46 million.
• Notable institutional investors, including Vanguard Group Inc. and Mirae Asset Global Investments, also expanded their positions in KE Holdings during the same period, indicating growing institutional interest.
• KE Holdings has a consensus buy rating from analysts, with a target price ranging from $22.00 to $25.00, reflecting positive expectations despite some recent target price adjustments.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 8.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 271,950 shares of the company's stock after acquiring an additional 22,200 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in KE were worth $5,463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP purchased a new stake in shares of KE in the 4th quarter worth approximately $233,000. Stifel Financial Corp purchased a new stake in shares of KE in the 4th quarter worth approximately $209,000. Pinebridge Investments L.P. purchased a new stake in shares of KE in the 4th quarter worth approximately $204,000. Voya Investment Management LLC grew its stake in shares of KE by 30.8% in the 4th quarter. Voya Investment Management LLC now owns 46,276 shares of the company's stock worth $852,000 after buying an additional 10,889 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of KE by 180.1% in the 4th quarter. Northern Trust Corp now owns 3,699,677 shares of the company's stock worth $68,148,000 after buying an additional 2,378,858 shares during the last quarter. Hedge funds and other institutional investors own 39.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays cut their price target on KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, August 15th. Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. cut their price target on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. Jefferies Financial Group set a $22.00 price target on KE and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, UBS Group upgraded KE from a "neutral" rating to a "buy" rating and increased their target price for the company from $22.10 to $23.00 in a research note on Friday, May 16th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $24.54.

KE Trading Up 0.4%

BEKE traded up $0.07 during trading on Friday, hitting $17.58. 6,226,279 shares of the company's stock traded hands, compared to its average volume of 6,156,846. The company's 50 day simple moving average is $18.36 and its two-hundred day simple moving average is $19.54. KE Holdings Inc. Sponsored ADR has a 12-month low of $13.28 and a 12-month high of $26.05. The stock has a market capitalization of $20.93 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 1.62 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.