Woodline Partners LP Reduces Stock Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Woodline Partners LP has reduced its stake in KE Holdings Inc. Sponsored ADR by 39.5% in the first quarter, now holding 356,630 shares valued at approximately $7.17 million.
• Various institutional investors have adjusted their positions, with some acquiring new stakes and others significantly increasing their holdings in KE, reflecting ongoing interest in the company.
• Analysts have varied opinions on KE's stock, with a consensus rating of "Buy" and a consensus target price of $24.54, despite some price target reductions by firms like JPMorgan and Barclays.

Woodline Partners LP lowered its holdings in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 39.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,630 shares of the company's stock after selling 233,302 shares during the quarter. Woodline Partners LP's holdings in KE were worth $7,165,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. First Affirmative Financial Network lifted its stake in shares of KE by 4.2% during the 1st quarter. First Affirmative Financial Network now owns 14,887 shares of the company's stock worth $299,000 after acquiring an additional 599 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of KE during the 1st quarter worth approximately $34,000. Cigna Investments Inc. New lifted its stake in shares of KE by 15.6% during the 1st quarter. Cigna Investments Inc. New now owns 12,847 shares of the company's stock worth $258,000 after acquiring an additional 1,737 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of KE by 1.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 169,159 shares of the company's stock worth $3,398,000 after acquiring an additional 1,774 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of KE by 21.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,011 shares of the company's stock worth $201,000 after acquiring an additional 1,797 shares during the last quarter. Hedge funds and other institutional investors own 39.34% of the company's stock.

KE Trading Down 1.9%

Shares of NYSE:BEKE traded down $0.39 on Thursday, reaching $19.98. The company had a trading volume of 1,507,228 shares, compared to its average volume of 8,360,486. KE Holdings Inc. Sponsored ADR has a 52-week low of $14.34 and a 52-week high of $26.05. The firm's 50 day simple moving average is $18.70 and its 200-day simple moving average is $19.41. The firm has a market capitalization of $23.78 billion, a PE ratio of 42.50, a PEG ratio of 2.43 and a beta of -0.76.

Analysts Set New Price Targets

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

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.