Canada Pension Plan Investment Board Trims Stock Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• The Canada Pension Plan Investment Board significantly reduced its stake in KE Holdings Inc. by 97.2%, holding only 310,700 shares valued at approximately $6.24 million after selling over 10 million shares in the first quarter.
• Recent analyst price targets for KE Holdings indicate a consensus target price of $24.54, with ratings ranging from "buy" to "overweight" from various financial institutions.
• KE Holdings' stock opened at $18.45, with a market cap of about $21.96 billion and significant price movement, reaching a one-year low of $13.28 and a high of $26.05.

Canada Pension Plan Investment Board cut its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 97.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 310,700 shares of the company's stock after selling 10,871,575 shares during the period. Canada Pension Plan Investment Board's holdings in KE were worth $6,242,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of KE by 13.4% during the first quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company's stock valued at $14,897,000 after acquiring an additional 87,659 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of KE by 14.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 123,886 shares of the company's stock valued at $2,489,000 after buying an additional 15,802 shares during the period. GAMMA Investing LLC purchased a new stake in shares of KE in the 1st quarter valued at $34,000. Vanguard Group Inc. raised its holdings 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 valued at $508,916,000 after buying an additional 919,420 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of KE by 0.7% in the 1st quarter. Hsbc Holdings PLC now owns 3,463,525 shares of the company's stock valued at $69,560,000 after buying an additional 23,087 shares during the period. 39.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BEKE shares. JPMorgan Chase & Co. cut their price objective on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Citigroup cut their price objective on KE from $25.80 to $24.80 and set a "buy" rating on the stock in a report on Friday, May 16th. Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Jefferies Financial Group set a $22.00 target price on KE and gave the company a "buy" rating in a report on Tuesday, August 26th. Finally, Barclays decreased their target price on KE from $33.00 to $25.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, KE currently has a consensus rating of "Buy" and a consensus target price of $24.54.

KE Trading Up 0.4%

NYSE:BEKE traded up $0.08 during trading hours on Monday, hitting $19.07. The company's stock had a trading volume of 1,302,097 shares, compared to its average volume of 8,441,272. The stock has a market capitalization of $22.70 billion, a P/E ratio of 40.52, a price-to-earnings-growth ratio of 2.30 and a beta of -0.76. The stock has a fifty day moving average of $18.37 and a 200-day moving average of $19.48. KE Holdings Inc. Sponsored ADR has a 52-week low of $13.28 and a 52-week high of $26.05.

About KE

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.