KE Holdings Inc. Sponsored ADR $BEKE Position Trimmed by Sylebra Capital LLC

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 lowered its position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 28.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 802,139 shares of the company's stock after selling 326,418 shares during the quarter. KE comprises approximately 0.8% of Sylebra Capital LLC's investment portfolio, making the stock its 18th biggest holding. Sylebra Capital LLC owned 0.07% of KE worth $16,115,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First Affirmative Financial Network boosted its position in shares of KE by 4.2% during the first quarter. First Affirmative Financial Network now owns 14,887 shares of the company's stock worth $299,000 after buying an additional 599 shares during the period. GAMMA Investing LLC acquired a new position in KE during the 1st quarter worth $34,000. Cigna Investments Inc. New grew its stake in shares of KE by 15.6% in the first quarter. Cigna Investments Inc. New now owns 12,847 shares of the company's stock worth $258,000 after purchasing an additional 1,737 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake 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 worth $3,398,000 after purchasing an additional 1,774 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of KE by 21.9% during the first 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. Institutional investors own 39.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of KE from $33.00 to $25.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Citigroup decreased their price objective on shares of KE from $25.80 to $24.80 and set a "buy" rating for the company in a report on Friday, May 16th. Wall Street Zen cut KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. UBS Group upgraded KE from a "neutral" rating to a "buy" rating and upped their target price for the stock from $22.10 to $23.00 in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. decreased their price target on KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $24.54.

KE Stock Up 0.1%

Shares of NYSE BEKE traded up $0.02 during mid-day trading on Wednesday, hitting $19.93. 5,166,093 shares of the company traded hands, compared to its average volume of 5,900,555. KE Holdings Inc. Sponsored ADR has a 1 year low of $13.28 and a 1 year high of $26.05. The stock has a market capitalization of $23.73 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 2.42 and a beta of -0.76. The business has a 50 day moving average of $18.44 and a two-hundred day moving average of $19.47.

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.