Davis Selected Advisers Reduces Stock Position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Davis Selected Advisers reduced its stake in KE Holdings Inc. by 49.0%, selling 1,787,344 shares during the first quarter, leaving the firm with a remaining ownership of 1,860,528 shares valued at approximately $37.38 million.
• Institutional investors now own 39.34% of KE Holdings, with several firms increasing their positions significantly in the last quarter, including a 1,279.9% increase by APG Asset Management N.V.
• Analysts have mixed sentiments on KE stock, with ratings ranging from a "hold" to a "buy", and a current consensus target price of $27.16.

Davis Selected Advisers decreased its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 49.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,860,528 shares of the company's stock after selling 1,787,344 shares during the period. Davis Selected Advisers owned about 0.15% of KE worth $37,378,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. First Affirmative Financial Network increased its holdings in shares of KE by 4.2% in the 1st quarter. First Affirmative Financial Network now owns 14,887 shares of the company's stock worth $299,000 after buying an additional 599 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of KE during the 1st quarter valued at $34,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of KE by 1.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 169,159 shares of the company's stock valued at $3,398,000 after purchasing an additional 1,774 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of KE by 1.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 296,970 shares of the company's stock valued at $5,966,000 after purchasing an additional 3,312 shares during the last quarter. Finally, Wealthquest Corp bought a new position in shares of KE during the 1st quarter valued at $79,000. Institutional investors own 39.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group raised shares of 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 report on Friday, May 16th. Citigroup reduced their target price on shares of KE from $25.80 to $24.80 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Wall Street Zen lowered shares of KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.16.

KE Price Performance

BEKE traded down $0.03 during trading on Friday, hitting $17.57. 5,724,345 shares of the stock traded hands, compared to its average volume of 5,223,705. The firm has a market capitalization of $20.92 billion, a P/E ratio of 33.15, a price-to-earnings-growth ratio of 1.31 and a beta of -0.76. The firm has a 50-day moving average of $18.52 and a 200 day moving average of $19.51. KE Holdings Inc. Sponsored ADR has a 12-month low of $13.28 and a 12-month high of $26.05.

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.