Alkeon Capital Management LLC Sells 1,500,000 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Alkeon Capital Management LLC lessened its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE) by 35.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,772,723 shares of the company’s stock after selling 1,500,000 shares during the period. Alkeon Capital Management LLC owned about 0.23% of KE worth $49,188,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BEKE. Strs Ohio purchased a new stake in shares of KE in the first quarter worth approximately $44,000. Hantz Financial Services Inc. grew its holdings in KE by 599.5% during the second quarter. Hantz Financial Services Inc. now owns 3,036 shares of the company’s stock worth $54,000 after buying an additional 2,602 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in KE by 145.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,812 shares of the company’s stock valued at $68,000 after buying an additional 2,257 shares during the last quarter. Brooklyn Investment Group raised its position in KE by 3,813.6% in the 1st quarter. Brooklyn Investment Group now owns 5,753 shares of the company’s stock valued at $116,000 after buying an additional 5,606 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in KE during the 2nd quarter valued at $116,000. Institutional investors and hedge funds own 39.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BEKE. UBS Group downgraded shares of KE from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Friday, October 31st. Jefferies Financial Group set a $22.00 price objective on shares of KE and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Barclays decreased their price objective on shares of KE from $33.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, August 15th. Weiss Ratings restated a “hold (c)” rating on shares of KE in a research note on Monday. Finally, Wall Street Zen downgraded KE from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.30.

KE Trading Down 1.2%

KE stock opened at $17.30 on Friday. The business’s 50 day simple moving average is $17.33 and its 200 day simple moving average is $18.21. KE Holdings Inc. Sponsored ADR has a 12 month low of $15.39 and a 12 month high of $25.17. The company has a market cap of $19.69 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 3.34 and a beta of -0.65.

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.