KE Holdings Inc. Sponsored ADR $BEKE Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in KE Holdings Inc. by 11.7%, owning 4,131,654 shares valued at approximately $83 million after buying an additional 431,977 shares in the first quarter.
• Institutional investors now hold about 39.34% of KE Holdings' stock, with significant boosts from other firms, including a 3,203.0% increase in ownership by Mirae Asset Global Investments.
• Analysts have a consensus rating of "Buy" for KE Holdings, with an average price target of $24.97, reflecting positive sentiment despite recent target adjustments by several financial institutions.

Northern Trust Corp lifted its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,131,654 shares of the company's stock after purchasing an additional 431,977 shares during the period. Northern Trust Corp owned about 0.34% of KE worth $83,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BEKE. Bank of New York Mellon Corp lifted its position in shares of KE by 13.4% during the 1st quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company's stock worth $14,897,000 after buying an additional 87,659 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in KE by 14.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 123,886 shares of the company's stock worth $2,489,000 after acquiring an additional 15,802 shares in the last quarter. GAMMA Investing LLC acquired a new stake in KE during the 1st quarter worth $34,000. Vanguard Group Inc. lifted its position in KE by 3.8% in the first quarter. Vanguard Group Inc. now owns 25,331,813 shares of the company's stock valued at $508,916,000 after acquiring an additional 919,420 shares during the last quarter. Finally, Myriad Asset Management US LP acquired a new position in KE in the first quarter valued at $2,168,000. Institutional investors and hedge funds own 39.34% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen cut KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. dropped their price target on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. Barclays cut their price target on KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. UBS Group raised KE from a "neutral" rating to a "buy" rating and increased their price objective for the company from $22.10 to $23.00 in a report on Friday, May 16th. Finally, Jefferies Financial Group set a $22.00 target price on shares of KE and gave the stock a "buy" rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $24.54.

KE Stock Down 1.7%

NYSE:BEKE traded down $0.30 during midday trading on Thursday, reaching $17.49. The stock had a trading volume of 5,278,712 shares, compared to its average volume of 8,566,187. The stock has a market cap of $20.83 billion, a P/E ratio of 37.22, a P/E/G ratio of 1.69 and a beta of -0.76. The firm has a fifty day simple moving average of $18.38 and a two-hundred day simple moving average of $19.58. KE Holdings Inc. Sponsored ADR has a 12-month low of $13.28 and a 12-month high of $26.05.

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.