Sumitomo Mitsui DS Asset Management Company Ltd Sells 93,259 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in KE Holdings Inc. by 55.1%, selling 93,259 shares and now holding 75,900 shares worth approximately $1,346,000.
• Institutional investors currently own 39.34% of KE Holdings Inc.'s stock, with several new stakes acquired in recent quarters.
• KE stock is trading at $19.39 with a recent 1.8% decline, and analysts have set target prices ranging from $22.00 to $25.00, with an average consensus price target of $24.54.

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 55.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,900 shares of the company's stock after selling 93,259 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in KE were worth $1,346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in KE in the first quarter worth about $34,000. Strs Ohio acquired a new stake in KE in the first quarter worth about $44,000. Wealthquest Corp acquired a new stake in KE in the first quarter worth about $79,000. State of Wyoming acquired a new stake in KE in the fourth quarter worth about $100,000. Finally, Brooklyn Investment Group increased its position in KE by 3,813.6% in the first quarter. Brooklyn Investment Group now owns 5,753 shares of the company's stock worth $116,000 after purchasing an additional 5,606 shares during the period. 39.34% of the stock is currently owned by institutional investors and hedge funds.

KE Stock Down 1.8%

Shares of KE stock opened at $19.39 on Tuesday. KE Holdings Inc. Sponsored ADR has a 12-month low of $14.55 and a 12-month high of $26.05. The stock has a market cap of $23.08 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.40 and a beta of -0.76. The business's 50 day moving average is $18.74 and its 200-day moving average is $19.27.

Analysts Set New Price Targets

BEKE has been the subject of a number of research reports. Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Barclays lowered their price objective on KE from $33.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday, August 15th. Jefferies Financial Group set a $22.00 target price on KE and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. decreased their target price on KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $24.54.

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.

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