KE (NYSE:BEKE) Stock Price Down 5.4%

KE Holdings Inc. (NYSE:BEKEGet Rating) shares fell 5.4% on Wednesday . The stock traded as low as $16.97 and last traded at $17.07. 211,636 shares changed hands during trading, a decline of 98% from the average session volume of 12,144,557 shares. The stock had previously closed at $18.05.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BEKE. The Goldman Sachs Group increased their target price on shares of KE from $21.70 to $23.00 in a research note on Sunday, June 12th. Barclays increased their price target on shares of KE from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, August 25th. Citigroup increased their price target on shares of KE from $22.50 to $23.80 in a report on Wednesday, August 24th. Finally, HSBC raised shares of KE from a “hold” rating to a “buy” rating and increased their price target for the stock from $13.70 to $20.80 in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.30.

KE Stock Down 1.1 %

The company has a market capitalization of $19.96 billion, a PE ratio of -25.39 and a beta of -2.15. The stock’s fifty day simple moving average is $16.16 and its 200-day simple moving average is $14.74.

KE (NYSE:BEKEGet Rating) last issued its earnings results on Tuesday, August 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.02. KE had a negative net margin of 8.26% and a negative return on equity of 7.67%. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Analysts expect that KE Holdings Inc. will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. increased its stake in shares of KE by 476.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,728 shares of the company’s stock worth $31,000 after purchasing an additional 1,428 shares in the last quarter. Ronald Blue Trust Inc. acquired a new stake in KE during the second quarter worth approximately $31,000. Parallel Advisors LLC acquired a new stake in KE during the second quarter worth approximately $51,000. Quadrant Capital Group LLC boosted its position in KE by 1,805.1% during the second quarter. Quadrant Capital Group LLC now owns 3,010 shares of the company’s stock worth $54,000 after acquiring an additional 2,852 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in KE by 53.3% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 4,804 shares of the company’s stock worth $86,000 after acquiring an additional 1,670 shares during the last quarter. 35.00% of the stock is owned by hedge funds and other institutional investors.

About KE

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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. The company operates in three segments: Existing Home Transaction Services, New Home Transaction Services, and Emerging and Other Services.

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