Sumitomo Mitsui Trust Group Inc. Trims Stake in KE Holdings Inc. (NYSE:BEKE)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of KE Holdings Inc. (NYSE:BEKE) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,452,453 shares of the company’s stock after selling 131,132 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.12% of KE worth $26,754,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BEKE. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of KE during the third quarter valued at $1,124,000. XTX Topco Ltd boosted its stake in shares of 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 purchasing an additional 90,054 shares during the last quarter. TT International Asset Management LTD purchased a new stake in shares of KE during the fourth quarter worth about $717,000. Headwater Capital Co Ltd acquired a new position in shares of KE in the fourth quarter valued at approximately $11,052,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of KE in the third quarter valued at approximately $1,723,000. Hedge funds and other institutional investors own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays raised their target price on shares of KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Bank of America raised KE from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $28.00 in a research report on Wednesday, October 30th.

KE Stock Performance

KE stock opened at $19.49 on Wednesday. KE Holdings Inc. has a 1 year low of $12.44 and a 1 year high of $26.05. The firm has a 50 day moving average price of $18.00 and a 200 day moving average price of $18.01. The company has a market cap of $23.55 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 2.95 and a beta of -0.76.

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.