KE (NYSE:BEKE) Stock Rating Lowered by Zacks Research

KE (NYSE:BEKE) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

A number of other brokerages have also recently weighed in on BEKE. Morgan Stanley reiterated an “overweight” rating on shares of KE in a report on Friday, August 21st. Weiss Ratings upgraded KE from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 9th. Wall Street Zen upgraded KE from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Finally, CLSA initiated coverage on KE in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $23.80 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.64.

KE Stock Performance

KE stock opened at $17.61 on Monday. KE has a 1 year low of $13.81 and a 1 year high of $19.88. The firm has a 50 day moving average price of $17.17 and a 200 day moving average price of $16.84.

KE (NYSE:BEKE) last posted its quarterly earnings results on Friday, August 21st. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.11. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Equities research analysts expect that KE will post 1.03 earnings per share for the current fiscal year.

Insider Buying and Selling at KE

In other news, Director Yigang Shan sold 3,326,670 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $5.44, for a total value of $18,097,084.80. Following the completion of the sale, the director owned 53,868,189 shares in the company, valued at approximately $293,042,948.16. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yongdong Peng sold 16,033,983 shares of the firm’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $5.27, for a total value of $84,499,090.41. Following the sale, the chief executive officer owned 62,824,251 shares in the company, valued at approximately $331,083,802.77. The trade was a 20.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KE

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Basecamp Wealth Advisors LLC grew its position in KE by 9.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 8,399 shares of the company’s stock valued at $126,000 after acquiring an additional 704 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of KE by 37.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,647 shares of the company’s stock worth $85,000 after purchasing an additional 1,543 shares in the last quarter. First Trust Advisors LP lifted its position in shares of KE by 28.1% during the first quarter. First Trust Advisors LP now owns 14,000 shares of the company’s stock worth $210,000 after purchasing an additional 3,073 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of KE by 66.3% during the first quarter. Parallel Advisors LLC now owns 8,814 shares of the company’s stock worth $132,000 after purchasing an additional 3,514 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in shares of KE in the third quarter valued at $63,000. 39.34% of the stock is owned by institutional investors and hedge funds.

About KE

KE Holdings Inc, also known as Beike, operates a technology-driven housing-services platform in China. The company connects consumers, housing agents, property developers and other service providers through online and offline channels.

Its business includes brokerage services for existing-home and new-home transactions, residential rentals, and related housing services. KE Holdings also provides home renovation and furnishing services, property management, and other services designed to support consumers throughout the residential real estate lifecycle.

The company’s platform supports a network of agents and stores and uses data, digital tools and standardized operating processes to facilitate property searches, transactions and related services.