FengHe Fund Management Pte. Ltd. Purchases Shares of 392,500 KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• FengHe Fund Management Pte. Ltd. has invested approximately $7.89 million in 392,500 shares of KE Holdings Inc., marking it as the firm's 12th largest position, accounting for about 3.0% of its portfolio.
• Various institutional investors have recently adjusted their holdings in KE, with 39.34% of the stock owned by hedge funds and others.
• Analysts have mixed ratings for KE Holdings Inc., with a consensus rating of "Moderate Buy" and an average target price of $26.30, despite some analysts lowering their price objectives.

FengHe Fund Management Pte. Ltd. acquired a new position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 392,500 shares of the company's stock, valued at approximately $7,885,000. KE accounts for approximately 3.0% of FengHe Fund Management Pte. Ltd.'s investment portfolio, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Central Asset Investments & Management Holdings HK Ltd grew its stake in KE by 37.0% in the 1st quarter. Central Asset Investments & Management Holdings HK Ltd now owns 67,000 shares of the company's stock valued at $1,346,000 after acquiring an additional 18,103 shares during the period. Russell Investments Group Ltd. grew its stake in KE by 241.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,474,292 shares of the company's stock valued at $29,635,000 after acquiring an additional 1,042,237 shares during the period. Prudential PLC grew its stake in KE by 77.3% in the 1st quarter. Prudential PLC now owns 642,681 shares of the company's stock valued at $12,911,000 after acquiring an additional 280,097 shares during the period. Resona Asset Management Co. Ltd. grew its stake in KE by 18.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 189,679 shares of the company's stock valued at $3,823,000 after acquiring an additional 29,261 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in KE by 29.2% in the 1st quarter. Public Sector Pension Investment Board now owns 263,126 shares of the company's stock valued at $5,286,000 after acquiring an additional 59,400 shares during the period. Institutional investors and hedge funds own 39.34% of the company's stock.

KE Trading Down 0.3%

NYSE BEKE traded down $0.06 during trading hours on Friday, reaching $18.33. The company had a trading volume of 2,808,766 shares, compared to its average volume of 8,650,247. The stock has a 50-day moving average of $18.49 and a 200 day moving average of $19.52. KE Holdings Inc. Sponsored ADR has a 1-year low of $13.28 and a 1-year high of $26.05. The stock has a market capitalization of $21.83 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 1.37 and a beta of -0.76.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday. UBS Group raised shares of KE from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $22.10 to $23.00 in a research note on Friday, May 16th. Barclays lowered their price target on shares of KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research report on Friday. Wall Street Zen downgraded shares of KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Citigroup reduced their price target on shares of KE from $25.80 to $24.80 and set a "buy" rating on the stock in a research report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, KE currently has an average rating of "Moderate Buy" and a consensus price target of $24.97.

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.