Driehaus Capital Management LLC Trims Holdings in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Driehaus Capital Management LLC has reduced its stake in KE Holdings Inc. by 28.8%, selling over 1 million shares during the first quarter and now holds about 0.21% of the company.
• Several institutional investors, including First Affirmative Financial Network and Oppenheimer Asset Management Inc., have recently increased their positions in KE, indicating strong institutional interest.
• Research analysts show mixed sentiment towards KE, with Wall Street Zen downgrading it to a "hold," while others like UBS Group upgraded it to "buy," reflecting a consensus price target of $24.54.

Driehaus Capital Management LLC decreased its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 28.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,549,683 shares of the company's stock after selling 1,029,211 shares during the period. Driehaus Capital Management LLC owned about 0.21% of KE worth $51,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Affirmative Financial Network increased its stake in KE by 4.2% in the first quarter. First Affirmative Financial Network now owns 14,887 shares of the company's stock worth $299,000 after purchasing an additional 599 shares during the period. GAMMA Investing LLC bought a new position in shares of KE during the 1st quarter worth $34,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position 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 worth $3,398,000 after buying an additional 1,774 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position 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 worth $5,966,000 after buying an additional 3,312 shares in the last quarter. Finally, Compound Planning Inc. grew its position in shares of KE by 29.6% during the 1st quarter. Compound Planning Inc. now owns 16,436 shares of the company's stock worth $330,000 after buying an additional 3,752 shares in the last quarter. Hedge funds and other institutional investors own 39.34% of the company's stock.

KE Price Performance

KE stock traded up $0.15 during midday trading on Wednesday, reaching $18.59. The company's stock had a trading volume of 2,205,547 shares, compared to its average volume of 8,512,775. The stock's 50-day simple moving average is $18.35 and its 200-day simple moving average is $19.51. KE Holdings Inc. Sponsored ADR has a 52-week low of $13.28 and a 52-week high of $26.05. The stock has a market capitalization of $22.13 billion, a P/E ratio of 39.56, a PEG ratio of 1.62 and a beta of -0.76.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BEKE shares. JPMorgan Chase & Co. dropped their price target on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. UBS Group raised KE from a "neutral" rating to a "buy" rating and increased their price target for the stock from $22.10 to $23.00 in a research report on Friday, May 16th. Jefferies Financial Group set a $22.00 price objective on KE and gave the company a "buy" rating in a research report on Tuesday, August 26th. Finally, Citigroup dropped their price objective on KE from $25.80 to $24.80 and set a "buy" rating on the stock in a research report on Friday, May 16th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $24.54.

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.