Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in KE Holdings Inc. (NYSE:BEKE)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of KE Holdings Inc. (NYSE:BEKE) by 25.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,234 shares of the company’s stock after acquiring an additional 50,900 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in KE were worth $4,982,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. CANADA LIFE ASSURANCE Co boosted its position in KE by 29.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 955,669 shares of the company’s stock worth $13,120,000 after purchasing an additional 217,376 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in KE by 10.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 393,483 shares of the company’s stock valued at $5,403,000 after buying an additional 37,500 shares during the period. Jennison Associates LLC increased its holdings in KE by 5.6% during the first quarter. Jennison Associates LLC now owns 1,662,303 shares of the company’s stock valued at $22,823,000 after buying an additional 88,376 shares during the last quarter. Swedbank AB bought a new position in KE in the first quarter worth approximately $3,393,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of KE by 43.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 163,399 shares of the company’s stock worth $2,243,000 after acquiring an additional 49,391 shares during the last quarter. Institutional investors own 39.34% of the company’s stock.

Wall Street Analyst Weigh In

BEKE has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of KE in a research report on Tuesday, September 10th. They set a “buy” rating and a $23.80 price objective on the stock. Bank of America raised their price target on KE from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, KE presently has an average rating of “Moderate Buy” and an average price target of $24.90.

KE Stock Up 8.4 %

KE stock opened at $21.10 on Friday. KE Holdings Inc. has a twelve month low of $12.44 and a twelve month high of $26.05. The business has a fifty day moving average of $17.23 and a two-hundred day moving average of $15.96. The firm has a market cap of $26.02 billion, a P/E ratio of 51.46, a P/E/G ratio of 4.76 and a beta of -0.71.

KE (NYSE:BEKE) last released its quarterly earnings results on Monday, August 12th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $2.06. The business had revenue of $23.37 billion for the quarter, compared to analyst estimates of $21.51 billion. KE had a net margin of 5.32% and a return on equity of 6.74%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. Equities analysts expect that KE Holdings Inc. will post 0.68 earnings per share for the current year.

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.