Geode Capital Management LLC Buys 44,797 Shares of KE Holdings Inc. (NYSE:BEKE)

Geode Capital Management LLC lifted its stake in shares of KE Holdings Inc. (NYSE:BEKE) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,765,337 shares of the company’s stock after acquiring an additional 44,797 shares during the quarter. Geode Capital Management LLC owned approximately 0.31% of KE worth $74,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. ABS Direct Equity Fund LLC acquired a new position in shares of KE in the 3rd quarter worth approximately $436,000. M&T Bank Corp raised its stake in KE by 14.2% during the third quarter. M&T Bank Corp now owns 46,964 shares of the company’s stock worth $935,000 after buying an additional 5,838 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in KE in the third quarter valued at $4,611,000. Y Intercept Hong Kong Ltd bought a new stake in KE during the third quarter valued at $13,540,000. Finally, XTX Topco Ltd grew its holdings in KE by 324.8% during the 3rd quarter. XTX Topco Ltd now owns 117,780 shares of the company’s stock worth $2,345,000 after acquiring an additional 90,054 shares during the period. 39.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BEKE has been the topic of several research analyst reports. Barclays upped their target price on KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Bank of America upgraded KE from a “neutral” rating to a “buy” rating and increased their price target for the stock from $24.00 to $28.00 in a report on Wednesday, October 30th. Finally, Citigroup initiated coverage on shares of KE in a research note on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price objective for the company.

KE Stock Performance

Shares of KE stock opened at $18.38 on Friday. The stock has a market capitalization of $22.21 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 4.76 and a beta of -0.77. KE Holdings Inc. has a 52 week low of $12.44 and a 52 week high of $26.05. The stock has a 50 day moving average price of $20.40 and a two-hundred day moving average price of $17.34.

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.