Jennison Associates LLC Reduces Stock Position in KE Holdings Inc. Sponsored ADR $BEKE

Jennison Associates LLC trimmed its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) by 53.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,290,232 shares of the company’s stock after selling 1,465,184 shares during the period. Jennison Associates LLC’s holdings in KE were worth $22,889,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BEKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in KE by 299.4% during the 1st 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 buying an additional 5,490,172 shares during the last quarter. Siren L.L.C. increased its position in KE by 75.0% during the first quarter. Siren L.L.C. now owns 105,000 shares of the company’s stock valued at $2,109,000 after acquiring an additional 45,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in KE by 13.4% in the first quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company’s stock valued at $14,897,000 after acquiring an additional 87,659 shares during the period. Axiom Investors LLC DE purchased a new position in KE in the first quarter worth about $25,547,000. Finally, Acadian Asset Management LLC purchased a new position in KE in the first quarter worth about $1,479,000. Institutional investors own 39.34% of the company’s stock.

KE Stock Down 2.8%

NYSE:BEKE opened at $17.26 on Friday. The business’s 50-day simple moving average is $18.77 and its two-hundred day simple moving average is $18.85. KE Holdings Inc. Sponsored ADR has a 52 week low of $16.05 and a 52 week high of $25.17. The stock has a market cap of $20.55 billion, a PE ratio of 36.72, a P/E/G ratio of 2.16 and a beta of -0.67.

Wall Street Analysts Forecast Growth

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

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.