KE (NYSE:BEKE) Shares Down 3.3% - Here's What Happened

Key Points

• KE Holdings Inc. shares fell by 3.3% during mid-day trading, with the stock last trading at $17.81, significantly lower than the previous close of $18.42.
• Analysts have set a new average target price of $24.54 for KE stock, with most ratings being "Buy" while one analyst issued a "Hold" rating.
• Institutional investors hold 39.34% of KE's shares, with several firms increasing their stakes during the second quarter.

KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Get Free Report) shares dropped 3.3% during mid-day trading on Friday . The company traded as low as $17.76 and last traded at $17.81. Approximately 1,038,218 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 7,896,989 shares. The stock had previously closed at $18.42.

Analysts Set New Price Targets

BEKE has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of KE in a report on Friday. Jefferies Financial Group set a $22.00 price objective on KE and gave the stock a "buy" rating in a report on Tuesday, August 26th. Barclays cut their price objective on KE from $33.00 to $25.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. lowered their target price on KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $24.54.

KE Stock Performance

The business has a 50 day moving average price of $18.81 and a two-hundred day moving average price of $18.86. The company has a market cap of $21.19 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 2.24 and a beta of -0.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its holdings in shares of KE by 7.1% during the second quarter. Signaturefd LLC now owns 8,935 shares of the company's stock valued at $159,000 after acquiring an additional 590 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of KE by 2.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 27,637 shares of the company's stock valued at $506,000 after acquiring an additional 735 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of KE by 8.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,820 shares of the company's stock valued at $192,000 after acquiring an additional 809 shares in the last quarter. Savant Capital LLC raised its holdings in shares of KE by 10.6% during the second quarter. Savant Capital LLC now owns 16,743 shares of the company's stock valued at $297,000 after acquiring an additional 1,601 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of KE during the first quarter valued at approximately $34,000. Institutional investors own 39.34% of the company's stock.

KE Company 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.

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