Allianz Asset Management GmbH Sells 852,642 Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Allianz Asset Management GmbH lessened its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE – Free Report) by 45.5% during the first quarter, HoldingsChannel.com reports. The firm owned 1,022,858 shares of the company’s stock after selling 852,642 shares during the period. Allianz Asset Management GmbH’s holdings in KE were worth $20,603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BEKE. GAMMA Investing LLC bought a new stake in KE during the first quarter worth $34,000. Wealthquest Corp bought a new stake in KE during the first quarter worth $79,000. State of Wyoming bought a new stake in KE during the fourth quarter worth $100,000. Raiffeisen Bank International AG bought a new stake in KE during the fourth quarter worth $151,000. Finally, FNY Investment Advisers LLC bought a new stake in KE during the first quarter worth $200,000. 39.34% of the stock is owned by institutional investors.

KE Stock Performance

BEKE stock opened at $19.77 on Friday. The company’s 50-day simple moving average is $18.58 and its 200 day simple moving average is $19.37. KE Holdings Inc. Sponsored ADR has a 52 week low of $12.92 and a 52 week high of $26.05. The company has a market capitalization of $23.89 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 1.46 and a beta of -0.76.

Wall Street Analyst Weigh In

Several research firms have commented on BEKE. UBS Group upgraded shares of KE from a “neutral” rating to a “buy” rating and upped their price objective for the company from $22.10 to $23.00 in a report on Friday, May 16th. Wall Street Zen downgraded shares of KE from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, Citigroup decreased their price objective on shares of KE from $25.80 to $24.80 and set a “buy” rating on the stock in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, KE currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.16.

Check Out Our Latest Report on BEKE

KE Company Profile

(Free Report)

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.