Point72 Hong Kong Ltd Sells 899,740 Shares of KE Holdings Inc. (NYSE:BEKE)

Point72 Hong Kong Ltd lessened its holdings in shares of KE Holdings Inc. (NYSE:BEKE) by 99.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,376 shares of the company’s stock after selling 899,740 shares during the quarter. Point72 Hong Kong Ltd’s holdings in KE were worth $187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BEKE. Blue Trust Inc. raised its holdings in KE by 2,662.2% in the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 3,168 shares in the last quarter. Rakuten Securities Inc. raised its stake in KE by 334,500.0% in the third quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock worth $67,000 after buying an additional 3,345 shares in the last quarter. Venturi Wealth Management LLC raised its stake in KE by 5,089.9% in the third quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock worth $82,000 after buying an additional 4,021 shares in the last quarter. Signaturefd LLC lifted its holdings in KE by 12.5% in the second quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock worth $110,000 after buying an additional 866 shares during the period. Finally, US Bancorp DE boosted its position in KE by 41.6% during the 3rd quarter. US Bancorp DE now owns 6,203 shares of the company’s stock valued at $124,000 after acquiring an additional 1,823 shares in the last quarter. Hedge funds and other institutional investors own 39.34% of the company’s stock.

KE Stock Up 2.4 %

BEKE stock opened at $19.31 on Tuesday. The business has a 50 day moving average of $20.93 and a 200 day moving average of $17.18. KE Holdings Inc. has a twelve month low of $12.44 and a twelve month high of $26.05. The firm has a market cap of $23.33 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 4.34 and a beta of -0.73.

Analysts Set New Price Targets

BEKE has been the subject of a number of research analyst reports. Barclays raised their target price on KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Bank of America raised KE from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $28.00 in a research report on Wednesday, October 30th. Finally, Citigroup assumed coverage on shares of KE in a research report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 target price on the stock.

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.