Alkeon Capital Management LLC Has $85.84 Million Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Alkeon Capital Management LLC reduced its stake in KE Holdings Inc. by 15%, selling 753,276 shares and holding approximately 4.27 million shares by the end of the quarter.
• Multiple research analysts have issued mixed ratings on KE Holdings, with the average target price being $24.54 and some firms upgrading their ratings to "buy" while others downgraded.
• KE Holdings has a current market cap of $20.93 billion and its stock is trading between a one-year low of $13.28 and a high of $26.05.

Alkeon Capital Management LLC reduced its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 15.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,272,723 shares of the company's stock after selling 753,276 shares during the period. Alkeon Capital Management LLC owned approximately 0.35% of KE worth $85,839,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BEKE. GAMMA Investing LLC acquired a new stake in shares of KE in the first quarter worth approximately $34,000. Wealthquest Corp acquired a new stake in shares of KE during the 1st quarter worth about $79,000. State of Wyoming acquired a new position in shares of KE in the 4th quarter worth approximately $100,000. Brooklyn Investment Group grew its stake in shares of KE by 3,813.6% in the first quarter. Brooklyn Investment Group now owns 5,753 shares of the company's stock valued at $116,000 after buying an additional 5,606 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in KE during the fourth quarter worth about $151,000. 39.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. lowered their price objective on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and raised their price objective for the company from $22.10 to $23.00 in a research note on Friday, May 16th. Jefferies Financial Group set a $22.00 price target on KE and gave the company a "buy" rating in a research report on Tuesday, August 26th. Finally, Barclays decreased their target price on shares of KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $24.54.

KE Stock Up 2.3%

KE stock traded up $0.43 during mid-day trading on Friday, hitting $18.99. The company's stock had a trading volume of 6,292,348 shares, compared to its average volume of 5,623,827. KE Holdings Inc. Sponsored ADR has a twelve month low of $13.28 and a twelve month high of $26.05. The stock's fifty day moving average price is $18.37 and its two-hundred day moving average price is $19.48. The stock has a market capitalization of $22.62 billion, a P/E ratio of 40.41, a P/E/G ratio of 2.30 and a beta of -0.76.

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.