BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 300,000 Shares of KE Holdings Inc. (NYSE:BEKE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in KE Holdings Inc. (NYSE:BEKE) by 24.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 935,250 shares of the company’s stock after selling 300,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in KE were worth $13,234,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BEKE. Norges Bank purchased a new position in KE in the 4th quarter worth approximately $43,492,000. Franklin Resources Inc. increased its stake in KE by 24.0% in the 4th quarter. Franklin Resources Inc. now owns 177,868 shares of the company’s stock worth $2,883,000 after purchasing an additional 34,453 shares during the period. Hsbc Holdings PLC increased its stake in KE by 199.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,934,573 shares of the company’s stock worth $31,360,000 after purchasing an additional 1,288,653 shares during the period. Parallel Advisors LLC increased its stake in KE by 90.4% in the 4th quarter. Parallel Advisors LLC now owns 3,304 shares of the company’s stock worth $54,000 after purchasing an additional 1,569 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in KE by 14.0% in the 4th quarter. Allianz Asset Management GmbH now owns 1,727,777 shares of the company’s stock worth $28,007,000 after purchasing an additional 212,832 shares during the period. 39.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on BEKE shares. Barclays lifted their price target on KE from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Citigroup started coverage on KE in a research note on Tuesday, September 10th. They set a “buy” rating and a $23.80 target price on the stock.

KE Stock Performance

BEKE opened at $16.93 on Wednesday. KE Holdings Inc. has a 52-week low of $12.44 and a 52-week high of $20.48. The stock has a market capitalization of $20.88 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 3.13 and a beta of -0.74. The stock’s 50 day moving average price is $14.33 and its 200-day moving average price is $14.98.

KE (NYSE:BEKE) last issued its quarterly earnings results on Monday, August 12th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $2.06. The company had revenue of $23.37 billion for the quarter, compared to analysts’ expectations of $21.51 billion. KE had a return on equity of 6.74% and a net margin of 5.32%. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. Research analysts forecast that KE Holdings Inc. will post 0.68 EPS for the current fiscal year.

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.