Hsbc Holdings PLC Has $5.77 Million Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• HSBC Holdings PLC cut its KE Holdings stake by 23.2% in the fourth quarter, selling 110,874 shares and leaving it with 366,485 shares valued at about $5.77 million.
• Institutional ownership remains significant, with several funds increasing or initiating positions, and institutions and hedge funds now owning 39.34% of KE stock.
• Analyst sentiment is generally positive: six analysts rate KE a Buy, one rates it Hold, and the consensus target price is $23.07, above the stock’s recent $15.27 trading level.

Hsbc Holdings PLC lessened its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,485 shares of the company's stock after selling 110,874 shares during the period. Hsbc Holdings PLC's holdings in KE were worth $5,773,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BEKE. Royal Bank of Canada lifted its position in KE by 73.3% during the 1st quarter. Royal Bank of Canada now owns 467,520 shares of the company's stock worth $9,392,000 after acquiring an additional 197,734 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in KE by 21.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,011 shares of the company's stock valued at $201,000 after purchasing an additional 1,797 shares during the period. Strs Ohio acquired a new stake in KE in the 1st quarter valued at approximately $44,000. Quantbot Technologies LP acquired a new position in shares of KE during the second quarter worth approximately $116,000. Finally, Invesco Ltd. boosted its position in shares of KE by 197.8% in the second quarter. Invesco Ltd. now owns 2,421,452 shares of the company's stock valued at $42,957,000 after acquiring an additional 1,608,207 shares during the period. 39.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on BEKE shares. Citigroup reissued a "buy" rating on shares of KE in a report on Tuesday, May 19th. Wall Street Zen upgraded KE from a "sell" rating to a "buy" rating in a research note on Saturday, May 23rd. The Goldman Sachs Group upgraded KE from a "neutral" rating to a "buy" rating and set a $21.00 price objective for the company in a research report on Monday, May 4th. Barclays boosted their price objective on KE from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of KE in a research report on Wednesday, June 24th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $23.07.

KE Stock Up 0.2%

BEKE opened at $15.27 on Friday. The firm has a market cap of $17.08 billion, a price-to-earnings ratio of 36.35 and a beta of -0.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.12 and a current ratio of 3.12. The firm's 50-day simple moving average is $16.47 and its 200-day simple moving average is $16.65. KE Holdings Inc. Sponsored ADR has a twelve month low of $13.81 and a twelve month high of $20.98.

About KE

KE Holdings Inc NYSE: BEKE is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.

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