Nuveen LLC Makes New $81.47 Million Investment in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Nuveen LLC invested approximately $81.47 million in KE Holdings Inc. by purchasing over 4 million shares, reflecting a confidence in the company's future performance.
• Several institutional investors have significantly increased their stakes in KE, with the Canada Pension Plan Investment Board raising its position by over 111 million percent.
• Analysts have mixed views on KE, with some upgrading ratings and price targets, while others are more cautious, leading to an average rating of "Moderate Buy" with a price target of $26.30.

Nuveen LLC purchased a new position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,055,393 shares of the company's stock, valued at approximately $81,473,000. Nuveen LLC owned about 0.34% of KE as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its stake in shares of KE by 111,822,650.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company's stock worth $205,978,000 after purchasing an additional 11,182,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in KE by 3,203.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock worth $160,769,000 after buying an additional 7,760,169 shares during the last quarter. Aspex Management HK Ltd bought a new position in KE during the 4th quarter valued at about $119,996,000. Nuveen Asset Management LLC boosted its holdings in shares of KE by 504.2% during the 4th quarter. Nuveen Asset Management LLC now owns 5,643,271 shares of the company's stock valued at $103,949,000 after acquiring an additional 4,709,266 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of KE in the first quarter worth approximately $54,759,000. Institutional investors own 39.34% of the company's stock.

Analyst Ratings Changes

BEKE has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of KE from $25.80 to $24.80 and set a "buy" rating on the stock in a research report on Friday, May 16th. Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. reduced 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. Barclays dropped their target price on KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, UBS Group raised shares of KE from a "neutral" rating to a "buy" rating and upped their price target for the company from $22.10 to $23.00 in a research report on Friday, May 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.97.

KE Stock Down 1.9%

BEKE traded down $0.36 during midday trading on Monday, reaching $17.98. The company had a trading volume of 2,297,922 shares, compared to its average volume of 8,609,256. KE Holdings Inc. Sponsored ADR has a 1 year low of $13.28 and a 1 year high of $26.05. The company has a market cap of $21.40 billion, a P/E ratio of 33.92, a P/E/G ratio of 1.37 and a beta of -0.76. The business has a 50-day moving average of $18.48 and a two-hundred day moving average of $19.55.

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.