Wellington Management Group LLP Has $220.21 Million Stock Position in 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 trimmed its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 8.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,961,121 shares of the company's stock after selling 1,071,068 shares during the quarter. Wellington Management Group LLP owned approximately 0.91% of KE worth $220,209,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BEKE. GAMMA Investing LLC acquired a new position in KE in the 1st quarter worth approximately $34,000. Wealthquest Corp acquired a new stake in shares of KE in the first quarter worth $79,000. State of Wyoming acquired a new stake in shares of KE in the fourth quarter worth $100,000. Brooklyn Investment Group grew its holdings in shares of KE by 3,813.6% during the first quarter. Brooklyn Investment Group now owns 5,753 shares of the company's stock valued at $116,000 after buying an additional 5,606 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in KE during the fourth quarter valued at $151,000. 39.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BEKE. JPMorgan Chase & Co. reduced their price target on shares of KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Wall Street Zen downgraded shares of KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Barclays lowered their price target on shares of KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Citigroup cut 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. Finally, UBS Group raised KE from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $22.10 to $23.00 in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $24.97.

KE Price Performance

Shares of BEKE traded up $0.1650 during trading hours on Friday, hitting $18.4950. The stock had a trading volume of 4,037,526 shares, compared to its average volume of 5,101,909. KE Holdings Inc. Sponsored ADR has a 52 week low of $13.28 and a 52 week high of $26.05. The stock has a market capitalization of $22.02 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 1.68 and a beta of -0.76. The company's fifty day moving average is $18.41 and its two-hundred day moving average is $19.58.

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.