Lord Abbett & CO. LLC Invests $28.96 Million in KE Holdings Inc. (NYSE:BEKE)

Lord Abbett & CO. LLC acquired a new position in KE Holdings Inc. (NYSE:BEKE - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,454,354 shares of the company's stock, valued at approximately $28,956,000. Lord Abbett & CO. LLC owned about 0.12% of KE at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of KE in the third quarter worth approximately $30,000. Blue Trust Inc. boosted its stake in KE by 2,662.2% during the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company's stock worth $45,000 after purchasing an additional 3,168 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of KE by 334,500.0% during the third quarter. Rakuten Securities Inc. now owns 3,346 shares of the company's stock worth $67,000 after buying an additional 3,345 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of KE by 5,089.9% in the third quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company's stock valued at $82,000 after buying an additional 4,021 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of KE by 41.6% in the third quarter. US Bancorp DE now owns 6,203 shares of the company's stock valued at $124,000 after buying an additional 1,823 shares during the last quarter. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BEKE has been the subject of several research reports. Bank of America raised shares of KE from a "neutral" rating to a "buy" rating and upped their price objective for the company from $24.00 to $28.00 in a research note on Wednesday, October 30th. Citigroup began coverage on KE in a research report on Tuesday, September 10th. They issued a "buy" rating and a $23.80 price target for the company. Finally, Barclays lifted their price objective on KE from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th.

KE Trading Down 3.1 %

BEKE stock traded down $0.61 during trading on Monday, reaching $18.81. 7,378,714 shares of the stock were exchanged, compared to its average volume of 9,308,716. The business has a 50 day moving average price of $20.59 and a 200-day moving average price of $17.31. KE Holdings Inc. has a 1 year low of $12.44 and a 1 year high of $26.05. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 4.76 and a beta of -0.77.

KE 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.