Prudential PLC Buys 280,097 Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Prudential PLC increased its stake in KE Holdings Inc. by 77.3% during the first quarter, acquiring a total of 642,681 shares valued at approximately $12.9 million.
• Multiple hedge funds have recently invested in KE, with institutional investors now owning 39.34% of the company’s stock.
• Recent analyst ratings for KE Holdings include a mix of recommendations, with a consensus rating of "Moderate Buy" and an average price target of $26.30.

Prudential PLC raised its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 77.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 642,681 shares of the company's stock after purchasing an additional 280,097 shares during the quarter. Prudential PLC owned 0.05% of KE worth $12,911,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in shares of KE in the first quarter valued at approximately $34,000. Wealthquest Corp bought a new position in shares of KE in the first quarter valued at approximately $79,000. State of Wyoming bought a new position in shares of KE in the fourth quarter valued at approximately $100,000. Raiffeisen Bank International AG bought a new position in shares of KE in the fourth quarter valued at approximately $151,000. Finally, FNY Investment Advisers LLC bought a new position in shares of KE in the first quarter valued at approximately $200,000. 39.34% of the stock is owned by hedge funds and other institutional investors.

KE Stock Performance

NYSE BEKE traded down $0.06 on Friday, hitting $18.33. 2,808,766 shares of the stock traded hands, compared to its average volume of 5,094,183. The business's fifty day moving average is $18.48 and its two-hundred day moving average is $19.53. KE Holdings Inc. Sponsored ADR has a 12 month low of $13.28 and a 12 month high of $26.05. The firm has a market capitalization of $21.83 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.37 and a beta of -0.76.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group raised KE from a "neutral" rating to a "buy" rating and upped their target price for the company from $22.10 to $23.00 in a report on Friday, May 16th. Barclays reduced their target price on KE from $33.00 to $25.00 and set an "overweight" rating for the company in a report on Friday. Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a report 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 report on Tuesday. Finally, Citigroup reduced their price objective on KE from $25.80 to $24.80 and set a "buy" rating for the company in a report on Friday, May 16th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.97.

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.