Allspring Global Investments Holdings LLC Reduces Stock Position in KE Holdings Inc. Sponsored ADR $BEKE

Allspring Global Investments Holdings LLC cut its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) by 81.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,617 shares of the company’s stock after selling 63,333 shares during the period. Allspring Global Investments Holdings LLC’s holdings in KE were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC raised its position in shares of KE by 7.1% in the 2nd quarter. Signaturefd LLC now owns 8,935 shares of the company’s stock worth $159,000 after acquiring an additional 590 shares in the last quarter. Cigna Investments Inc. New grew its stake in 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 buying an additional 1,737 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in 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 buying an additional 1,774 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in KE by 21.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,011 shares of the company’s stock valued at $201,000 after purchasing an additional 1,797 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of KE by 4.3% in the first quarter. Voya Investment Management LLC now owns 48,249 shares of the company’s stock valued at $969,000 after purchasing an additional 1,973 shares during the period. 39.34% of the stock is owned by institutional investors.

KE Trading Down 3.3%

NYSE:BEKE opened at $17.81 on Friday. The firm has a market cap of $21.20 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 2.17 and a beta of -0.67. The stock has a fifty day moving average price of $18.80 and a 200 day moving average price of $18.87. KE Holdings Inc. Sponsored ADR has a 12-month low of $16.05 and a 12-month high of $25.17.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BEKE. Jefferies Financial Group set a $22.00 price objective on KE and gave the company a “buy” rating in a report on Tuesday, August 26th. Weiss Ratings restated a “hold (c+)” rating on shares of KE in a research note on Friday. JPMorgan Chase & Co. lowered their target price on KE from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 12th. Finally, Barclays lowered their target price on KE from $33.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 15th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.54.

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.