Envestnet Asset Management Inc. Acquires 35,781 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Envestnet Asset Management Inc. grew its holdings in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) by 17.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,170 shares of the company’s stock after acquiring an additional 35,781 shares during the period. Envestnet Asset Management Inc.’s holdings in KE were worth $4,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in KE by 299.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,323,774 shares of the company’s stock valued at $147,135,000 after purchasing an additional 5,490,172 shares during the period. Siren L.L.C. raised its stake in shares of KE by 75.0% in the first quarter. Siren L.L.C. now owns 105,000 shares of the company’s stock worth $2,109,000 after buying an additional 45,000 shares during the period. Bank of New York Mellon Corp lifted its position in shares of KE by 13.4% during the 1st quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company’s stock valued at $14,897,000 after buying an additional 87,659 shares in the last quarter. Axiom Investors LLC DE bought a new position in shares of KE during the 1st quarter valued at approximately $25,547,000. Finally, Acadian Asset Management LLC purchased a new stake in KE in the 1st quarter worth approximately $1,479,000. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

KE Stock Performance

BEKE opened at $16.76 on Friday. The stock has a market capitalization of $19.95 billion, a price-to-earnings ratio of 39.89, a PEG ratio of 3.02 and a beta of -0.64. The company has a fifty day moving average of $18.40 and a 200 day moving average of $18.60. KE Holdings Inc. Sponsored ADR has a fifty-two week low of $15.39 and a fifty-two week high of $25.17.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BEKE shares. Barclays lowered their price target on shares of KE from $33.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, August 15th. Weiss Ratings restated a “hold (c+)” rating on shares of KE in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of KE from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, August 12th. Jefferies Financial Group set a $22.00 price target on KE and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Finally, UBS Group downgraded KE from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, KE presently has a consensus rating of “Moderate Buy” and an average price target of $23.30.

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.