KE (NYSE:BEKE) Shares Gap Up – Still a Buy?

KE Holdings Inc. (NYSE:BEKE)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $19.47, but opened at $21.04. KE shares last traded at $21.12, with a volume of 4,879,922 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on BEKE. Barclays raised their price objective on KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Bank of America raised KE from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $28.00 in a research note on Wednesday, October 30th.

KE Price Performance

The firm has a fifty day moving average price of $18.06 and a two-hundred day moving average price of $18.04. The stock has a market capitalization of $24.60 billion, a PE ratio of 41.54, a P/E/G ratio of 2.95 and a beta of -0.76.

Institutional Investors Weigh In On KE

Hedge funds and other institutional investors have recently modified their holdings of the business. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of KE in the third quarter worth approximately $1,124,000. XTX Topco Ltd increased 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 purchasing an additional 90,054 shares during the period. TT International Asset Management LTD purchased a new position in KE during the 4th quarter worth $717,000. Headwater Capital Co Ltd purchased a new position in KE during the 4th quarter worth $11,052,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in KE by 5.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,583,585 shares of the company’s stock worth $31,529,000 after purchasing an additional 76,517 shares during the period. 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.