Jennison Associates LLC Sells 1,465,184 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Jennison Associates LLC decreased its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) by 53.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,290,232 shares of the company’s stock after selling 1,465,184 shares during the period. Jennison Associates LLC owned about 0.11% of KE worth $22,889,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC grew its stake in KE by 7.1% in the second quarter. Signaturefd LLC now owns 8,935 shares of the company’s stock worth $159,000 after purchasing an additional 590 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of KE by 2.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 27,637 shares of the company’s stock valued at $506,000 after buying an additional 735 shares in the last quarter. Cigna Investments Inc. New grew its position in shares of KE by 15.6% in the 1st quarter. Cigna Investments Inc. New now owns 12,847 shares of the company’s stock worth $258,000 after buying an additional 1,737 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of KE by 1.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 169,159 shares of the company’s stock worth $3,398,000 after acquiring an additional 1,774 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in KE by 21.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,011 shares of the company’s stock valued at $201,000 after acquiring an additional 1,797 shares during the period. Hedge funds and other institutional investors own 39.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BEKE. Jefferies Financial Group set a $22.00 price objective on shares of KE and gave the stock a “buy” rating in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KE in a research report on Wednesday, October 8th. Barclays lowered their price objective on KE from $33.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. cut their target price on KE from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.97.

KE Stock Down 2.8%

Shares of NYSE BEKE opened at $17.26 on Friday. The firm has a market cap of $20.55 billion, a P/E ratio of 36.72, a PEG ratio of 2.16 and a beta of -0.67. KE Holdings Inc. Sponsored ADR has a twelve month low of $16.05 and a twelve month high of $25.17. The company has a 50 day moving average of $18.77 and a 200 day moving average of $18.85.

KE 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.