Mitsubishi UFJ Trust & Banking Corp Sells 389,471 Shares of KE Holdings Inc. (NYSE:BEKE)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in KE Holdings Inc. (NYSE:BEKEGet Rating) by 70.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 163,911 shares of the company’s stock after selling 389,471 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in KE were worth $2,943,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Viking Global Investors LP raised its position in shares of KE by 360.2% in the first quarter. Viking Global Investors LP now owns 13,440,125 shares of the company’s stock valued at $166,254,000 after purchasing an additional 10,519,869 shares during the period. Farallon Capital Management LLC raised its position in shares of KE by 523.7% in the first quarter. Farallon Capital Management LLC now owns 8,713,500 shares of the company’s stock valued at $107,786,000 after purchasing an additional 7,316,500 shares during the period. Wellington Management Group LLP raised its position in shares of KE by 232.1% in the first quarter. Wellington Management Group LLP now owns 8,008,987 shares of the company’s stock valued at $99,071,000 after purchasing an additional 5,597,610 shares during the period. Carmignac Gestion bought a new stake in shares of KE in the first quarter valued at approximately $42,805,000. Finally, BlackRock Inc. raised its position in shares of KE by 20.2% in the first quarter. BlackRock Inc. now owns 19,606,566 shares of the company’s stock valued at $242,534,000 after purchasing an additional 3,289,479 shares during the period. Institutional investors own 35.00% of the company’s stock.

KE Price Performance

BEKE stock opened at $14.81 on Friday. KE Holdings Inc. has a one year low of $7.31 and a one year high of $24.85. The stock has a market cap of $17.64 billion, a PE ratio of -22.44 and a beta of -2.10. The firm has a 50 day simple moving average of $14.27 and a two-hundred day simple moving average of $14.80.

KE (NYSE:BEKEGet Rating) last released its quarterly earnings results on Tuesday, August 23rd. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. KE had a negative net margin of 8.26% and a negative return on equity of 7.67%. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.78 billion. On average, research analysts expect that KE Holdings Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BEKE. Barclays upped their target price on shares of KE from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, October 28th. Citigroup upped their target price on shares of KE from $22.50 to $23.80 in a report on Wednesday, August 24th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.44.

About KE

(Get Rating)

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. The company operates in three segments: Existing Home Transaction Services, New Home Transaction Services, and Emerging and Other Services.

Further Reading

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Institutional Ownership by Quarter for KE (NYSE:BEKE)

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