KE (NYSE:BEKE) Shares Gap Up to $20.00

KE Holdings Inc. (NYSE:BEKE) gapped up prior to trading on Monday . The stock had previously closed at $20.00, but opened at $22.24. KE shares last traded at $22.10, with a volume of 10,137,896 shares traded.

Analyst Ratings Changes

Separately, Citigroup started coverage on KE in a research report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 target price for the company.

KE Stock Up 8.8 %

The firm’s fifty day moving average price is $14.60 and its 200 day moving average price is $15.08. The stock has a market cap of $26.82 billion, a PE ratio of 54.66, a P/E/G ratio of 3.40 and a beta of -0.74.

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

Institutional Investors Weigh In On KE

A number of hedge funds have recently made changes to their positions in BEKE. M&G Plc purchased a new stake in KE during the first quarter valued at approximately $135,880,000. RWC Asset Advisors US LLC acquired a new stake in shares of KE during the 2nd quarter valued at about $70,807,000. Price T Rowe Associates Inc. MD increased its holdings in KE by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,363,638 shares of the company’s stock worth $526,734,000 after acquiring an additional 4,736,152 shares in the last quarter. Coatue Management LLC boosted its stake in shares of KE by 169.7% in the fourth quarter. Coatue Management LLC now owns 5,015,918 shares of the company’s stock worth $81,308,000 after acquiring an additional 3,155,995 shares during the last quarter. Finally, Capital World Investors lifted its stake in shares of KE by 24.9% in the fourth quarter. Capital World Investors now owns 13,861,852 shares of the company’s stock worth $224,701,000 after buying an additional 2,763,209 shares in the last quarter. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

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.