KE (NYSE:BEKE) CEO Yongdong Peng Sells 16,033,983 Shares of Stock

Key Points

• CEO Yongdong Peng sold 16,033,983 KE shares at an average price of $5.27, generating approximately $84.5 million. His remaining direct ownership fell by 20.33% to 62.8 million shares.
• KE reported quarterly EPS of $0.42, beating estimates of $0.31, while revenue reached $3.61 billion versus expectations of $3.59 billion. The stock opened at $16.92, near its 50-day and 200-day moving averages.
• Institutional investors own 39.34% of the company, with Wellington Management and Baird Financial among firms increasing their stakes. Analysts maintain a generally positive outlook, with an average “Buy” rating and a $23.64 price target.

KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Get Free Report) CEO Yongdong Peng sold 16,033,983 shares of the business's stock in a transaction on Friday, September 25th. The shares were sold at an average price of $5.27, for a total transaction of $84,499,090.41. Following the sale, the chief executive officer directly owned 62,824,251 shares of the company's stock, valued at $331,083,802.77. This represents a 20.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

KE Stock Up 3.6%

Shares of NYSE:BEKE opened at $16.92 on Tuesday. The company has a market capitalization of $18.93 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 0.53 and a beta of -0.26. The company has a 50 day moving average of $17.00 and a two-hundred day moving average of $16.51. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.01. KE Holdings Inc. Sponsored ADR has a 52-week low of $13.81 and a 52-week high of $20.65.

KE (NYSE:BEKE - Get Free Report) last released its earnings results on Friday, August 21st. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.31 by $0.11. KE had a return on equity of 7.62% and a net margin of 5.38%.The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.59 billion. As a group, analysts forecast that KE Holdings Inc. Sponsored ADR will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in shares of KE during the 2nd quarter valued at about $261,000. Baird Financial Group Inc. lifted its stake in KE by 5.8% during the second quarter. Baird Financial Group Inc. now owns 5,942,507 shares of the company's stock valued at $86,345,000 after purchasing an additional 324,707 shares during the last quarter. Carrhae Capital LLP bought a new stake in KE during the second quarter worth approximately $10,138,000. Nykredit A S bought a new position in shares of KE in the second quarter valued at $456,000. Finally, Wellington Management Group LLP raised its stake in KE by 16.0% during the 2nd quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company's stock valued at $129,536,000 after purchasing an additional 1,231,445 shares during the period. Institutional investors own 39.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BEKE shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of KE in a report on Monday, September 21st. Wall Street Zen raised shares of KE from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Morgan Stanley reaffirmed an "overweight" rating on shares of KE in a research report on Friday, August 21st. CLSA began coverage on shares of KE in a report on Wednesday, August 19th. They issued an "outperform" rating and a $23.80 target price on the stock. Finally, Zacks Research upgraded KE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $23.64.

KE Company Profile

KE Holdings Inc, operating under the brand name Beike, is a China-based platform that provides residential real estate transaction and related services. The company connects home buyers, sellers, landlords and tenants with real estate agents and brokerage stores through its online and offline network.

Its services include existing-home sales, new-home sales, residential rentals and property-related services. Beike also provides technology and data tools for real estate professionals, including digital listings, transaction support and virtual-reality viewing capabilities.

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