ABS Direct Equity Fund LLC Sells 42,000 Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

ABS Direct Equity Fund LLC trimmed its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 49.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,200 shares of the company's stock after selling 42,000 shares during the period. ABS Direct Equity Fund LLC's holdings in KE were worth $848,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. FIL Ltd increased its position in shares of KE by 21.1% in the fourth quarter. FIL Ltd now owns 25,847,478 shares of the company's stock valued at $476,111,000 after buying an additional 4,503,902 shares in the last quarter. Hhlr Advisors LTD. raised its stake in shares of KE by 3.6% in the fourth quarter. Hhlr Advisors LTD. now owns 11,261,276 shares of the company's stock valued at $207,433,000 after acquiring an additional 392,588 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in KE by 111,822,650.0% in the fourth 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of KE by 2.4% during the 4th quarter. Renaissance Technologies LLC now owns 8,155,694 shares of the company's stock worth $150,228,000 after buying an additional 194,800 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of KE in the 4th quarter valued at $130,167,000. Hedge funds and other institutional investors own 39.34% of the company's stock.

KE Stock Performance

Shares of NYSE BEKE traded down $0.78 during trading on Wednesday, hitting $18.14. 10,544,590 shares of the company traded hands, compared to its average volume of 9,580,762. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 1.31 and a beta of -0.76. The business's fifty day moving average is $19.36 and its 200 day moving average is $19.45. KE Holdings Inc. Sponsored ADR has a fifty-two week low of $12.92 and a fifty-two week high of $26.05.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BEKE shares. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and raised their target price for the company from $22.10 to $23.00 in a report on Friday, May 16th. Citigroup reduced their target price on KE from $25.80 to $24.80 and set a "buy" rating on the stock in a report on Friday, May 16th. Morgan Stanley raised their target price on KE from $19.00 to $27.00 and gave the company an "overweight" rating in a research report on Wednesday, March 19th. Jefferies Financial Group reiterated a "buy" rating on shares of KE in a report on Tuesday, March 18th. Finally, Wall Street Zen upgraded shares of KE from a "hold" rating to a "buy" rating in a report on Saturday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, KE currently has a consensus rating of "Buy" and an average price target of $27.16.

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.