ABS Direct Equity Fund LLC Increases Stock Position in KE Holdings Inc. (NYSE:BEKE)

ABS Direct Equity Fund LLC grew its stake in KE Holdings Inc. (NYSE:BEKE - Free Report) by 284.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,200 shares of the company's stock after purchasing an additional 62,300 shares during the period. KE comprises approximately 1.8% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 24th largest holding. ABS Direct Equity Fund LLC's holdings in KE were worth $1,551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. M&G PLC raised its stake in KE by 16.4% in the 3rd quarter. M&G PLC now owns 10,090,834 shares of the company's stock valued at $201,817,000 after purchasing an additional 1,422,667 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of KE by 203.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,478,102 shares of the company's stock worth $128,979,000 after acquiring an additional 4,340,517 shares during the last quarter. CoreView Capital Management Ltd lifted its holdings in KE by 11.2% in the third quarter. CoreView Capital Management Ltd now owns 5,112,701 shares of the company's stock valued at $101,794,000 after acquiring an additional 515,197 shares during the last quarter. Geode Capital Management LLC increased its stake in KE by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,765,337 shares of the company's stock worth $74,323,000 after acquiring an additional 44,797 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of KE by 83.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,355,895 shares of the company's stock valued at $47,486,000 after purchasing an additional 1,528,748 shares during the last quarter. Institutional investors and hedge funds own 39.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BEKE. Barclays boosted their price objective on KE from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Bank of America upgraded shares of KE from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $24.00 to $28.00 in a research note on Wednesday, October 30th.

KE Price Performance

NYSE:BEKE traded down $0.91 during trading hours on Friday, reaching $17.41. 2,986,379 shares of the company traded hands, compared to its average volume of 6,774,255. KE Holdings Inc. has a 1-year low of $12.44 and a 1-year high of $26.05. The stock has a market cap of $21.04 billion, a P/E ratio of 35.51, a P/E/G ratio of 2.87 and a beta of -0.76. The firm's 50-day moving average is $18.18 and its 200-day moving average is $17.75.

About KE

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.