Sylebra Capital LLC Decreases Stock Holdings in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Sylebra Capital LLC reduced its holdings in KE Holdings Inc. by 28.9%, selling 326,418 shares and retaining 802,139 shares by the end of the first quarter.
• Analysts have recently lowered target prices for KE's stock, with average target price now at $24.54 and multiple firms maintaining a "buy" or "overweight" rating.
• KE Holdings operates an integrated platform for housing transactions in China and had a market cap of $22.62 billion with a P/E ratio of 40.41.

Sylebra Capital LLC lessened its holdings in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 28.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 802,139 shares of the company's stock after selling 326,418 shares during the quarter. KE makes up about 0.8% of Sylebra Capital LLC's investment portfolio, making the stock its 18th biggest position. Sylebra Capital LLC owned 0.07% of KE worth $16,115,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. First Trust Advisors LP acquired a new position in KE during the fourth quarter worth approximately $233,000. Stifel Financial Corp acquired a new position in KE during the fourth quarter worth approximately $209,000. Ameriprise Financial Inc. increased its position in KE by 253.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,333,337 shares of the company's stock worth $24,560,000 after purchasing an additional 956,476 shares during the last quarter. Ethic Inc. increased its position in KE by 22.6% during the fourth quarter. Ethic Inc. now owns 46,639 shares of the company's stock worth $859,000 after purchasing an additional 8,612 shares during the last quarter. Finally, Lighthouse Investment Partners LLC increased its position in KE by 289.8% during the fourth quarter. Lighthouse Investment Partners LLC now owns 85,923 shares of the company's stock worth $1,583,000 after purchasing an additional 63,878 shares during the last quarter. Hedge funds and other institutional investors own 39.34% of the company's stock.

Analyst Upgrades and Downgrades

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

KE Trading Down 0.7%

Shares of BEKE traded down $0.14 during trading hours on Friday, reaching $20.03. 2,947,093 shares of the company traded hands, compared to its average volume of 8,396,826. The stock's fifty day moving average price is $18.54 and its 200 day moving average price is $19.47. The firm has a market cap of $23.84 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 2.42 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 12-month low of $13.28 and a 12-month 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.