Swiss National Bank Grows Stock Holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• The Swiss National Bank increased its stake in KE Holdings Inc. by 9.1%, owning approximately 1,580,730 shares valued at $31.76 million.
• Multiple large institutions have also boosted their investments in KE Holdings, including Envestnet Asset Management and FMR LLC, who saw increases of 40.4% and 39.4%, respectively.
• Wall Street analysts have differing opinions, with UBS upgrading the stock to a "buy" rating and adjusting the target price to $23.00, while Wall Street Zen downgraded it to a "hold".

Swiss National Bank increased its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,580,730 shares of the company's stock after buying an additional 131,500 shares during the quarter. Swiss National Bank owned about 0.13% of KE worth $31,757,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of KE in the first quarter worth approximately $34,000. Wealthquest Corp purchased a new stake in shares of KE in the first quarter worth approximately $79,000. State of Wyoming purchased a new stake in shares of KE during the fourth quarter valued at approximately $100,000. Raiffeisen Bank International AG purchased a new stake in shares of KE during the fourth quarter valued at approximately $151,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of KE during the first quarter valued at approximately $200,000. 39.34% of the stock is owned by institutional investors and hedge funds.

KE Stock Down 0.3%

Shares of BEKE stock traded down $0.06 on Friday, reaching $18.33. The company's stock had a trading volume of 2,808,766 shares, compared to its average volume of 5,094,183. KE Holdings Inc. Sponsored ADR has a 12-month low of $13.28 and a 12-month high of $26.05. The company has a market capitalization of $21.83 billion, a P/E ratio of 34.59, a PEG ratio of 1.37 and a beta of -0.76. The stock's 50 day simple moving average is $18.48 and its 200-day simple moving average is $19.53.

Wall Street Analyst Weigh In

A number of analysts recently commented on BEKE shares. Barclays decreased their price target on KE from $33.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday. 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. UBS Group raised KE from a "neutral" rating to a "buy" rating and increased their price objective for the company from $22.10 to $23.00 in a report on Friday, May 16th. Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, JPMorgan Chase & Co. cut their price target on KE from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, KE presently has a consensus rating of "Moderate Buy" and an average price target of $24.97.

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.