KE Holdings Inc. Sponsored ADR (NYSE:BEKE) Shares Sold by Harvest Fund Management Co. Ltd

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 lessened its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 32.4% in the 1st quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BEKE. Canada Pension Plan Investment Board boosted its stake in shares of KE by 111,822,650.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company's stock valued at $205,978,000 after buying an additional 11,182,265 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of KE by 3,203.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock valued at $160,769,000 after buying an additional 7,760,169 shares during the period. Norges Bank purchased a new position in shares of KE in the 4th quarter valued at about $130,167,000. Aspex Management HK Ltd purchased a new position in shares of KE in the 4th quarter valued at about $119,996,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of KE by 504.2% in the 4th quarter. Nuveen Asset Management LLC now owns 5,643,271 shares of the company's stock valued at $103,949,000 after buying an additional 4,709,266 shares during the period. Hedge funds and other institutional investors own 39.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BEKE shares. Citigroup decreased their price objective on KE from $25.80 to $24.80 and set a "buy" rating for the company in a research note on Friday, May 16th. UBS Group raised KE from a "neutral" rating to a "buy" rating and raised their target price for the stock from $22.10 to $23.00 in a research report on Friday, May 16th. Finally, Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.16.

KE Stock Down 1.8%

BEKE traded down $0.35 during trading on Wednesday, hitting $18.59. 4,453,951 shares of the stock were exchanged, compared to its average volume of 4,736,649. The firm has a market capitalization of $22.46 billion, a P/E ratio of 35.08, a PEG ratio of 1.41 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 has a fifty day moving average price of $18.60 and a two-hundred day moving average price of $19.44.

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.