Pinpoint Asset Management Ltd Sells 121,819 Shares of KE Holdings Inc. (NYSE:BEKE)

Pinpoint Asset Management Ltd reduced its stake in shares of KE Holdings Inc. (NYSE:BEKE - Free Report) by 17.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 593,889 shares of the company's stock after selling 121,819 shares during the period. KE comprises approximately 2.1% of Pinpoint Asset Management Ltd's portfolio, making the stock its 13th biggest position. Pinpoint Asset Management Ltd's holdings in KE were worth $11,469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Prudential PLC grew its holdings in KE by 4.1% during the fourth quarter. Prudential PLC now owns 362,584 shares of the company's stock worth $6,679,000 after buying an additional 14,384 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of KE in the fourth quarter valued at about $1,579,000. Geode Capital Management LLC raised its holdings in shares of KE by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 3,857,378 shares of the company's stock valued at $70,585,000 after purchasing an additional 92,041 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of KE by 100.0% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 60,000 shares of the company's stock valued at $1,105,000 after purchasing an additional 30,000 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in KE by 107.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 61,221 shares of the company's stock worth $1,128,000 after purchasing an additional 31,734 shares during the last quarter. 39.34% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

BEKE has been the subject of several analyst reports. Jefferies Financial Group reiterated a "buy" rating on shares of KE in a research note on Tuesday, March 18th. UBS Group downgraded shares of KE from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $22.70 to $24.50 in a report on Thursday, March 20th. Finally, Morgan Stanley raised their price objective on shares of KE from $19.00 to $27.00 and gave the stock an "overweight" rating in a report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, KE currently has an average rating of "Moderate Buy" and a consensus target price of $27.26.

KE Stock Up 1.3 %

KE stock traded up $0.22 during midday trading on Wednesday, reaching $17.39. The stock had a trading volume of 7,858,785 shares, compared to its average volume of 9,749,733. The firm has a market capitalization of $21.02 billion, a PE ratio of 35.50, a P/E/G ratio of 3.45 and a beta of -0.73. KE Holdings Inc. has a 12 month low of $12.49 and a 12 month high of $26.05. The firm's 50-day moving average price is $20.75 and its 200 day moving average price is $20.01.

KE Increases Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, April 25th. Stockholders of record on Wednesday, April 9th will be given a $0.36 dividend. The ex-dividend date is Wednesday, April 9th. This represents a dividend yield of 1.4%. This is a positive change from KE's previous -- dividend of $0.17. KE's payout ratio is 64.58%.

KE Company 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.