Rhumbline Advisers Sells 12,267 Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Rhumbline Advisers reduced its holdings in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) by 12.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,109 shares of the company’s stock after selling 12,267 shares during the quarter. Rhumbline Advisers’ holdings in KE were worth $1,670,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in KE during the 4th quarter valued at about $30,000. GAMMA Investing LLC bought a new stake in KE during the first quarter worth $34,000. Principal Securities Inc. raised its position in KE by 411.9% in the 4th quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock valued at $38,000 after buying an additional 1,664 shares during the last quarter. Rakuten Securities Inc. raised its position in KE by 42.3% in the 4th quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock valued at $88,000 after buying an additional 1,416 shares during the last quarter. Finally, State of Wyoming bought a new position in KE during the 4th quarter valued at $100,000. 39.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BEKE. Morgan Stanley increased their target price on shares of KE from $19.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, March 19th. UBS Group upgraded shares of KE from a “neutral” rating to a “buy” rating and increased their price objective for the company from $22.10 to $23.00 in a research note on Friday, May 16th. Jefferies Financial Group reissued a “buy” rating on shares of KE in a research report on Tuesday, March 18th. Wall Street Zen raised KE from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Citigroup dropped their price target on KE from $25.80 to $24.80 and set a “buy” rating on the stock in a report on Friday, May 16th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $27.16.

KE Trading Down 1.2%

NYSE:BEKE opened at $18.97 on Wednesday. KE Holdings Inc. Sponsored ADR has a 12 month low of $12.92 and a 12 month high of $26.05. The firm’s 50 day moving average is $19.36 and its 200 day moving average is $19.45. The stock has a market capitalization of $22.92 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 1.31 and a beta of -0.76.

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.