KE Holdings Inc. Sponsored ADR $BEKE Position Lowered by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in KE Holdings Inc. by 35.9%, selling 16,909 shares during the first quarter, which left them with 30,130 shares valued at approximately $605,000.
• Multiple institutional investors made new purchases in KE Holdings during the first quarter, with total institutional ownership at 39.34%.
• Analyst ratings for KE Holdings vary, with a consensus rating of "Moderate Buy" and a target price of $24.97, despite some recent price target reductions by firms like Citigroup and JPMorgan Chase.

Gulf International Bank UK Ltd decreased its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 35.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,130 shares of the company's stock after selling 16,909 shares during the period. Gulf International Bank UK Ltd's holdings in KE were worth $605,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of KE by 3,203.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock valued at $160,769,000 after purchasing an additional 7,760,169 shares during the period. Aspex Management HK Ltd purchased a new stake in KE during the fourth quarter worth approximately $119,996,000. Nuveen Asset Management LLC grew its stake in KE by 504.2% during the fourth quarter. Nuveen Asset Management LLC now owns 5,643,271 shares of the company's stock worth $103,949,000 after buying an additional 4,709,266 shares during the period. Nuveen LLC purchased a new stake in KE during the first quarter worth approximately $81,473,000. Finally, National Bank of Canada FI purchased a new stake in KE during the 1st quarter worth $54,759,000. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

KE Stock Up 0.2%

Shares of KE stock traded up $0.0360 on Thursday, hitting $18.4060. 4,054,421 shares of the company's stock traded hands, compared to its average volume of 8,567,074. The stock has a market cap of $21.92 billion, a P/E ratio of 34.73, a PEG ratio of 1.63 and a beta of -0.76. The firm's 50-day moving average is $18.42 and its 200 day moving average is $19.54. KE Holdings Inc. Sponsored ADR has a 52-week low of $13.28 and a 52-week high of $26.05.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BEKE. Wall Street Zen cut shares of KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. UBS Group upgraded KE from a "neutral" rating to a "buy" rating and upped their price target for the stock from $22.10 to $23.00 in a report on Friday, May 16th. Barclays decreased their price target on KE from $33.00 to $25.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Citigroup decreased their target price on shares of KE from $25.80 to $24.80 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average 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.