Massachusetts Financial Services Co. MA Purchases 47,562 Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Massachusetts Financial Services Co. MA raised its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 55.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 133,280 shares of the company's stock after acquiring an additional 47,562 shares during the period. Massachusetts Financial Services Co. MA's holdings in KE were worth $2,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in KE by 8.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,379 shares of the company's stock worth $173,000 after acquiring an additional 762 shares during the period. Vinva Investment Management Ltd purchased a new stake in shares of KE during the 4th quarter worth approximately $243,000. Northwest & Ethical Investments L.P. purchased a new position in shares of KE in the 4th quarter worth $708,000. KLP Kapitalforvaltning AS purchased a new stake in KE during the fourth quarter valued at approximately $2,605,000. Finally, Taikang Asset Management Hong Kong Co Ltd boosted its stake in shares of KE by 13.4% during the 4th quarter. Taikang Asset Management Hong Kong Co Ltd now owns 603,662 shares of the company's stock worth $11,119,000 after purchasing an additional 71,460 shares during the period. 39.34% of the stock is owned by institutional investors.

KE Stock Up 1.2%

Shares of BEKE traded up $0.23 during trading hours on Tuesday, hitting $19.27. The company had a trading volume of 1,298,763 shares, compared to its average volume of 9,107,694. KE Holdings Inc. Sponsored ADR has a 12 month low of $12.92 and a 12 month high of $26.05. The business has a fifty day moving average of $18.61 and a 200-day moving average of $19.35. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 1.44 and a beta of -0.76.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Citigroup cut their price target on shares of KE from $25.80 to $24.80 and set a "buy" rating on the stock in a report on Friday, May 16th. 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 note on Friday, May 16th. Finally, Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a research note 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.16.

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.