Northwest & Ethical Investments L.P. Sells 17,736 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in KE Holdings Inc. by 46.1%, owning 20,700 shares worth $416,000 after selling 17,736 shares in Q1.
• Increased institutional investment was noted, with Lord Abbett & CO. LLC acquiring a new position worth approximately $24 million, and other firms also boosting their stakes in KE.
• Analysts have mixed ratings on KE Holdings Inc., with UBS Group upgrading it to "buy" with a price target of $23.00, while Barclays and Citigroup have lowered their price targets.

Northwest & Ethical Investments L.P. reduced its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 46.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,700 shares of the company's stock after selling 17,736 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in KE were worth $416,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts have issued reports on BEKE shares. UBS Group raised KE from a "neutral" rating to a "buy" rating and lifted their price target for the company from $22.10 to $23.00 in a research note on Friday, May 16th. JPMorgan Chase & Co. decreased their price target on shares of KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. Wall Street Zen downgraded shares of KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Barclays cut their price objective on shares of KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Finally, Citigroup decreased their target price on shares of KE from $25.80 to $24.80 and set a "buy" rating for the company in a research report on Friday, May 16th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $24.97.

KE Stock Up 0.9%

Shares of NYSE BEKE traded up $0.1650 during trading hours on Friday, hitting $18.4950. The company had a trading volume of 4,037,526 shares, compared to its average volume of 5,101,909. The stock has a market capitalization of $22.02 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 1.68 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 1-year low of $13.28 and a 1-year high of $26.05. The firm's 50 day moving average is $18.41 and its 200-day moving average is $19.58.

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.