Mirae Asset Global Investments Co. Ltd. Trims Holdings in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Mirae Asset Global Investments reduced its holdings in KE Holdings Inc. by 96.9% during the second quarter, resulting in ownership of only 249,524 shares valued at $4.4 million.
• Several institutional investors, including UBS AM and Siren L.L.C., have significantly increased their stakes in KE, with UBS AM boosting its position by 299.4%.
• Research analysts have set a range of price targets for KE shares, with an average target price of $24.54 and a predominant rating of "Moderate Buy."

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 96.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,524 shares of the company's stock after selling 7,752,924 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in KE were worth $4,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of KE by 299.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,323,774 shares of the company's stock valued at $147,135,000 after buying an additional 5,490,172 shares in the last quarter. Siren L.L.C. lifted its position in shares of KE by 75.0% in the first quarter. Siren L.L.C. now owns 105,000 shares of the company's stock valued at $2,109,000 after acquiring an additional 45,000 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of KE by 13.4% in the first quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company's stock worth $14,897,000 after acquiring an additional 87,659 shares during the period. Axiom Investors LLC DE purchased a new stake in shares of KE during the first quarter worth about $25,547,000. Finally, Asset Management One Co. Ltd. grew its position in shares of KE by 14.6% during the first quarter. Asset Management One Co. Ltd. now owns 123,886 shares of the company's stock worth $2,489,000 after purchasing an additional 15,802 shares in the last quarter. 39.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on BEKE shares. Jefferies Financial Group set a $22.00 price target on KE and gave the stock a "buy" rating in a report on Tuesday, August 26th. Barclays dropped their target price 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. Weiss Ratings reiterated a "hold (c+)" rating on shares of KE in a report on Saturday, September 27th. Wall Street Zen cut shares of KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, JPMorgan Chase & Co. cut their price objective on KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.54.

KE Stock Up 1.7%

KE stock opened at $19.01 on Tuesday. KE Holdings Inc. Sponsored ADR has a 52-week low of $16.05 and a 52-week high of $25.89. The firm's fifty day moving average is $18.74 and its 200 day moving average is $19.02. The company has a market cap of $22.64 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 2.27 and a beta of -0.67.

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.

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