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

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of KE Holdings Inc. (NYSE:BEKE) by 421.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 199,334 shares of the company’s stock after acquiring an additional 161,100 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in KE were worth $2,821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. M&G Plc acquired a new position in shares of KE during the first quarter worth $135,880,000. Price T Rowe Associates Inc. MD grew its stake in shares of KE by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,363,638 shares of the company’s stock worth $526,734,000 after acquiring an additional 4,736,152 shares during the last quarter. Coatue Management LLC increased its holdings in shares of KE by 169.7% during the fourth quarter. Coatue Management LLC now owns 5,015,918 shares of the company’s stock valued at $81,308,000 after acquiring an additional 3,155,995 shares in the last quarter. Capital World Investors increased its holdings in shares of KE by 24.9% during the fourth quarter. Capital World Investors now owns 13,861,852 shares of the company’s stock valued at $224,701,000 after acquiring an additional 2,763,209 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of KE in the 4th quarter valued at approximately $43,492,000. Hedge funds and other institutional investors own 39.34% of the company’s stock.

KE Stock Performance

Shares of BEKE stock opened at $14.84 on Friday. The stock’s 50-day simple moving average is $14.54 and its 200-day simple moving average is $14.85. The firm has a market capitalization of $18.30 billion, a PE ratio of 36.20, a P/E/G ratio of 3.21 and a beta of -0.75. KE Holdings Inc. has a fifty-two week low of $12.44 and a fifty-two week high of $20.48.

KE (NYSE:BEKE) last issued its earnings results on Monday, August 12th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $2.06. KE had a return on equity of 6.04% and a net margin of 4.80%. The firm had revenue of $23.37 billion for the quarter, compared to analyst estimates of $21.51 billion. During the same quarter in the prior year, the firm earned $0.17 earnings per share. KE’s revenue for the quarter was up 19.9% on a year-over-year basis. Sell-side analysts forecast that KE Holdings Inc. will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Barclays upped their price target on shares of KE from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th.

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.