Harvest Fund Management Co. Ltd Decreases Stock Position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Harvest Fund Management Co. Ltd has reduced its stake in KE Holdings Inc. by 32.4%, holding 418,357 shares valued at approximately $8.40 million after selling 200,466 shares.
• Several institutional investors have increased their positions in KE Holdings, with Norges Bank investing $130.17 million and Nomura Asset Management increasing its stake by 267.7%.
• The current price of KE Holdings Inc. (NYSE:BEKE) is $19.44, with analysts generally providing a consensus rating of "Moderate Buy" and an average price target of $27.16.

Harvest Fund Management Co. Ltd lowered its holdings in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 32.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 418,357 shares of the company's stock after selling 200,466 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in KE were worth $8,401,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. First Affirmative Financial Network raised its holdings in shares of KE by 4.2% during the first quarter. First Affirmative Financial Network now owns 14,887 shares of the company's stock valued at $299,000 after acquiring an additional 599 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of KE during the first quarter valued at approximately $34,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of KE by 1.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 169,159 shares of the company's stock valued at $3,398,000 after acquiring an additional 1,774 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of KE by 1.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 296,970 shares of the company's stock valued at $5,966,000 after acquiring an additional 3,312 shares during the last quarter. Finally, Wealthquest Corp acquired a new position in shares of KE during the first quarter valued at approximately $79,000. Hedge funds and other institutional investors own 39.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BEKE. UBS Group raised KE from a "neutral" rating to a "buy" rating and increased their price target for the company from $22.10 to $23.00 in a report on Friday, May 16th. Wall Street Zen cut KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Citigroup cut their price target on KE from $25.80 to $24.80 and set a "buy" rating for the company in a report on Friday, May 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.16.

KE Trading Down 1.1%

KE stock traded down $0.21 during mid-day trading on Friday, hitting $18.21. The company's stock had a trading volume of 4,616,466 shares, compared to its average volume of 4,909,078. The firm has a market capitalization of $21.68 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 1.37 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 1 year low of $12.92 and a 1 year high of $26.05. The stock's fifty day moving average is $18.60 and its two-hundred day moving average is $19.47.

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.