Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in KE Holdings Inc. by 9.1% in Q1, holding 620,484 shares valued at approximately $12.47 million.
• Several institutional investors, including Bank of New York Mellon and Asset Management One, also raised their holdings in KE Holdings during the same period, reflecting strong interest from institutional buyers.
• Analysts have mixed ratings on KE stock, with UBS upgrading it to a "buy" and raising the price target, while Wall Street Zen downgraded it to a "hold," indicating varying sentiments on KE's future performance.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 620,484 shares of the company's stock after buying an additional 51,600 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.05% of KE worth $12,466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in KE by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 25,331,813 shares of the company's stock worth $508,916,000 after buying an additional 919,420 shares during the period. Krane Funds Advisors LLC boosted its holdings in KE by 12.9% in the 1st quarter. Krane Funds Advisors LLC now owns 14,915,812 shares of the company's stock worth $299,659,000 after buying an additional 1,707,067 shares during the period. Hhlr Advisors LTD. boosted its holdings in KE by 3.6% in the 4th quarter. Hhlr Advisors LTD. now owns 11,261,276 shares of the company's stock worth $207,433,000 after buying an additional 392,588 shares during the period. Canada Pension Plan Investment Board boosted its holdings in KE by 111,822,650.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company's stock worth $205,978,000 after buying an additional 11,182,265 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in KE by 3,203.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock worth $160,769,000 after buying an additional 7,760,169 shares during the period. 39.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup cut 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 lowered shares of KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and boosted their price target for the company from $22.10 to $23.00 in a research report on Friday, May 16th. JPMorgan Chase & Co. reduced their price target on shares of KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Barclays reduced 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.97.

KE Price Performance

NYSE BEKE traded down $0.06 during trading hours on Friday, reaching $18.33. 2,808,766 shares of the stock traded hands, compared to its average volume of 5,094,183. The stock has a 50 day simple moving average of $18.48 and a two-hundred day simple moving average of $19.53. KE Holdings Inc. Sponsored ADR has a 1 year low of $13.28 and a 1 year high of $26.05. The company has a market cap of $21.83 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 1.37 and a beta of -0.76.

KE Company 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.