Pinpoint Asset Management Ltd Has $41.29 Million Stock Position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Pinpoint Asset Management Ltd increased its stake in KE Holdings Inc. by 246.1% to a total of 2,055,195 shares, making it the firm's 5th largest holding.
• Institutional investors collectively own 39.34% of KE Holdings Inc., with several hedge funds, including Vanguard Group and Canada Pension Plan Investment Board, significantly increasing their positions during the first quarter.
• Currently, KE Holdings has a market capitalization of $20.88 billion and analysts have a consensus "Moderate Buy" rating with a price target of $27.16.

Pinpoint Asset Management Ltd increased its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 246.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,055,195 shares of the company's stock after acquiring an additional 1,461,306 shares during the period. KE makes up 7.2% of Pinpoint Asset Management Ltd's investment portfolio, making the stock its 5th largest position. Pinpoint Asset Management Ltd owned about 0.17% of KE worth $41,289,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BEKE. Vanguard Group Inc. boosted its holdings in shares of KE by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 25,331,813 shares of the company's stock valued at $508,916,000 after purchasing an additional 919,420 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in shares of KE by 12.9% in the 1st quarter. Krane Funds Advisors LLC now owns 14,915,812 shares of the company's stock valued at $299,659,000 after purchasing an additional 1,707,067 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in shares of KE by 3.6% during the 4th quarter. Hhlr Advisors LTD. now owns 11,261,276 shares of the company's stock valued at $207,433,000 after acquiring an additional 392,588 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of KE by 111,822,650.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company's stock valued at $205,978,000 after acquiring an additional 11,182,265 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of KE by 3,203.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock valued at $160,769,000 after acquiring an additional 7,760,169 shares in the last quarter. 39.34% of the stock is owned by institutional investors and hedge funds.

KE Trading Down 0.2%

BEKE stock traded down $0.03 during trading on Friday, reaching $17.57. The stock had a trading volume of 5,724,345 shares, compared to its average volume of 5,223,705. 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 capitalization of $20.92 billion, a P/E ratio of 33.15, a PEG ratio of 1.31 and a beta of -0.76. The firm has a fifty day moving average price of $18.52 and a 200 day moving average price of $19.49.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BEKE. Wall Street Zen lowered shares of KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Citigroup reduced their target price 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. Finally, UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and lifted their target price for the company from $22.10 to $23.00 in a report on Friday, May 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, KE currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.16.

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.