Wellington Management Group LLP Sells 1,071,068 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Wellington Management Group LLP has reduced its stake in KE Holdings Inc. by 8.9%, selling 1,071,068 shares during the first quarter, bringing its total holdings to approximately 10.96 million shares valued at $220 million.
• Research analysts have had mixed views on KE Holdings Inc., with UBS upgrading its rating to "buy" with a target price of $23.00, while Citigroup and Barclays lowered their price objectives for the stock.
• As of now, KE Holdings Inc. has a market capitalization of $21.49 billion and is trading around $18.04, with a 50-day moving average of $18.44.

Wellington Management Group LLP lessened its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 8.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,961,121 shares of the company's stock after selling 1,071,068 shares during the quarter. Wellington Management Group LLP owned 0.91% of KE worth $220,209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BEKE. GAMMA Investing LLC bought a new stake in KE in the 1st quarter valued at $34,000. Wealthquest Corp bought a new stake in KE in the 1st quarter valued at $79,000. State of Wyoming acquired a new stake in shares of KE in the 4th quarter valued at $100,000. Brooklyn Investment Group boosted its stake in shares of KE by 3,813.6% in the 1st quarter. Brooklyn Investment Group now owns 5,753 shares of the company's stock valued at $116,000 after purchasing an additional 5,606 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of KE in the 4th quarter valued at $151,000. Institutional investors own 39.34% of the company's stock.

Wall Street Analyst Weigh In

BEKE has been the topic of several recent analyst reports. Barclays reduced their target price on shares of KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, August 15th. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and boosted their target price for the company from $22.10 to $23.00 in a research note on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on shares of KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen downgraded shares of KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, 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 research note on Friday, May 16th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $24.97.

KE Trading Up 2.0%

NYSE BEKE traded up $0.3650 on Monday, hitting $18.8950. 3,386,204 shares of the company were exchanged, compared to its average volume of 8,518,931. The firm has a 50 day moving average of $18.41 and a two-hundred day moving average of $19.59. The company has a market cap of $22.50 billion, a P/E ratio of 35.70, a P/E/G ratio of 1.68 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 1-year low of $13.28 and a 1-year high of $26.05.

KE 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.