Panagora Asset Management Inc. Has $12.94 Million Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Panagora Asset Management Inc. significantly increased its stake in KE Holdings Inc. by 1,494.3% during Q1, owning 644,325 shares valued at approximately $12.9 million.
• A total of 39.34% of KE Holdings' stock is now owned by institutional investors and hedge funds, demonstrating strong institutional interest.
• Wall Street analysts have a consensus rating of "Buy" for KE Holdings, with an average target price of $24.54 following recent upgrades from several firms.

Panagora Asset Management Inc. raised its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 1,494.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 644,325 shares of the company's stock after purchasing an additional 603,910 shares during the period. Panagora Asset Management Inc. owned 0.05% of KE worth $12,944,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Affirmative Financial Network increased its holdings in shares of KE by 4.2% in the first quarter. First Affirmative Financial Network now owns 14,887 shares of the company's stock valued at $299,000 after purchasing an additional 599 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of KE in the first quarter valued at $34,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of KE by 1.1% in 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 purchasing an additional 1,774 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of KE by 1.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 296,970 shares of the company's stock valued at $5,966,000 after purchasing an additional 3,312 shares during the last quarter. Finally, Compound Planning Inc. increased its holdings in shares of KE by 29.6% in the first quarter. Compound Planning Inc. now owns 16,436 shares of the company's stock valued at $330,000 after purchasing an additional 3,752 shares during the last quarter. 39.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BEKE has been the topic of several research reports. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and upped their price objective for the company from $22.10 to $23.00 in a report on Friday, May 16th. Wall Street Zen downgraded shares of KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Citigroup decreased their price target on shares of KE from $25.80 to $24.80 and set a "buy" rating on the stock in a research note on Friday, May 16th. Barclays decreased their price target on shares of KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, August 15th. Finally, Jefferies Financial Group set a $22.00 price target on shares of KE and gave the company a "buy" rating in a research note on Tuesday, August 26th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $24.54.

KE Trading Up 2.3%

BEKE stock traded up $0.43 during mid-day trading on Friday, hitting $18.99. The stock had a trading volume of 6,292,348 shares, compared to its average volume of 5,623,827. The firm has a fifty day simple moving average of $18.37 and a 200 day simple moving average of $19.49. The firm has a market capitalization of $22.62 billion, a P/E ratio of 40.41, a P/E/G ratio of 2.25 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 52 week low of $13.28 and a 52 week high of $26.05.

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.