Envestnet Asset Management Inc. Trims Stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Envestnet Asset Management Inc. reduced its stake in KE Holdings Inc. by 33.1%, selling 101,324 shares, bringing its total ownership to 204,389 shares valued at approximately $4.1 million.
• Several other institutional investors increased their stakes in KE, including Bank of New York Mellon, which grew its position by 13.4% to own 741,494 shares worth about $14.9 million.
• Analysts have provided mixed ratings on KE, with UBS upgrading the stock to a "buy" and raising the target price to $23.00, while Citigroup lowered its price objective from $25.80 to $24.80.

Envestnet Asset Management Inc. lowered its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 33.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 204,389 shares of the company's stock after selling 101,324 shares during the period. Envestnet Asset Management Inc.'s holdings in KE were worth $4,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new position in KE in the 1st quarter valued at about $34,000. Wealthquest Corp acquired a new position in KE in the 1st quarter valued at about $79,000. State of Wyoming acquired a new position in KE in the 4th quarter valued at about $100,000. Raiffeisen Bank International AG acquired a new position in KE in the 4th quarter valued at about $151,000. Finally, FNY Investment Advisers LLC acquired a new position in KE in the 1st quarter valued at about $200,000. Institutional investors and hedge funds own 39.34% of the company's stock.

Analysts Set New Price Targets

BEKE has been the topic of several recent research reports. UBS Group upgraded 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. Citigroup lowered their price objective on KE from $25.80 to $24.80 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.16.

KE Trading Down 1.5%

Shares of NYSE:BEKE traded down $0.30 during trading on Tuesday, hitting $19.11. 1,112,179 shares of the stock were exchanged, compared to its average volume of 8,934,376. The company has a fifty day moving average price of $18.59 and a two-hundred day moving average price of $19.45. The company has a market cap of $23.09 billion, a PE ratio of 36.07, a P/E/G ratio of 1.45 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 12-month low of $12.92 and a 12-month high of $26.05.

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.