KE (NYSE:BEKE) Stock Crosses Above 50 Day Moving Average – What’s Next?

KE Holdings Inc. Sponsored ADR (NYSE:BEKE)’s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $17.16 and traded as high as $17.75. KE shares last traded at $17.5660, with a volume of 4,425,547 shares traded.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen raised KE from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Zacks Research raised KE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. CLSA assumed coverage on KE in a report on Wednesday, August 19th. They set an “outperform” rating and a $23.80 price target for the company. Weiss Ratings upgraded shares of KE from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. Finally, Morgan Stanley reissued an “overweight” rating on shares of KE in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $23.64.

KE Trading Up 2.8%

The firm has a market capitalization of $19.65 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 0.56 and a beta of -0.26. The business’s 50 day moving average price is $17.16 and its 200-day moving average price is $16.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.30 and a quick ratio of 3.30.

KE (NYSE:BEKE) last announced its quarterly earnings data on Friday, August 21st. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.11. KE had a net margin of 5.38% and a return on equity of 7.62%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.59 billion. Equities analysts forecast that KE Holdings Inc. Sponsored ADR will post 1.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Yongdong Peng sold 16,033,983 shares of the stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $5.27, for a total transaction of $84,499,090.41. Following the completion of the transaction, the chief executive officer directly owned 62,824,251 shares of the company’s stock, valued at approximately $331,083,802.77. This represents a 20.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Yigang Shan sold 3,326,670 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $5.44, for a total value of $18,097,084.80. Following the completion of the sale, the director directly owned 53,868,189 shares of the company’s stock, valued at $293,042,948.16. This represents a 5.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On KE

A number of large investors have recently made changes to their positions in BEKE. Wellington Management Group LLP increased its holdings in KE by 16.0% in the second quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company’s stock valued at $129,536,000 after buying an additional 1,231,445 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in KE by 5.8% in the 2nd quarter. Baird Financial Group Inc. now owns 5,942,507 shares of the company’s stock valued at $86,345,000 after purchasing an additional 324,707 shares in the last quarter. Perseverance Asset Management International boosted its position in KE by 20.4% during the first quarter. Perseverance Asset Management International now owns 1,391,439 shares of the company’s stock worth $20,830,000 after acquiring an additional 236,000 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of KE by 56.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 630,660 shares of the company’s stock worth $10,627,000 after purchasing an additional 227,616 shares during the last quarter. Finally, Carrhae Capital LLP purchased a new stake in KE in the 2nd quarter valued at about $10,138,000. Hedge funds and other institutional investors own 39.34% of the company’s stock.

About KE

KE Holdings Inc, also known as Beike, operates a technology-driven housing-services platform in China. The company connects consumers, housing agents, property developers and other service providers through online and offline channels.

Its business includes brokerage services for existing-home and new-home transactions, residential rentals, and related housing services. KE Holdings also provides home renovation and furnishing services, property management, and other services designed to support consumers throughout the residential real estate lifecycle.

The company’s platform supports a network of agents and stores and uses data, digital tools and standardized operating processes to facilitate property searches, transactions and related services.