Van ECK Associates Corp Sells 66,942 Shares of KE Holdings Inc. (NYSE:BEKE)

Van ECK Associates Corp lessened its holdings in shares of KE Holdings Inc. (NYSE:BEKE - Free Report) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 652,597 shares of the company's stock after selling 66,942 shares during the quarter. Van ECK Associates Corp owned about 0.05% of KE worth $13,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. raised its position in KE by 9.8% during the first quarter. Daiwa Securities Group Inc. now owns 59,393 shares of the company's stock valued at $816,000 after purchasing an additional 5,279 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of KE by 5.6% during the 1st quarter. Jennison Associates LLC now owns 1,662,303 shares of the company's stock valued at $22,823,000 after buying an additional 88,376 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in KE by 12,022.8% in the first quarter. ANTIPODES PARTNERS Ltd now owns 1,494,261 shares of the company's stock worth $20,516,000 after buying an additional 1,481,935 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in KE by 43.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 163,399 shares of the company's stock valued at $2,243,000 after acquiring an additional 49,391 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of KE by 11.3% during the 1st quarter. QRG Capital Management Inc. now owns 13,357 shares of the company's stock valued at $183,000 after purchasing an additional 1,360 shares during the last quarter. Hedge funds and other institutional investors own 39.34% of the company's stock.

KE Price Performance

KE stock traded down $0.11 during mid-day trading on Wednesday, reaching $22.49. The stock had a trading volume of 5,982,650 shares, compared to its average volume of 9,406,999. The company has a market capitalization of $27.50 billion, a price-to-earnings ratio of 46.71, a PEG ratio of 4.86 and a beta of -0.73. KE Holdings Inc. has a one year low of $12.44 and a one year high of $26.05. The company has a 50-day moving average price of $18.83 and a two-hundred day moving average price of $16.65.

KE (NYSE:BEKE - Get Free Report) last issued its earnings results on Monday, August 12th. The company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $2.06. The business had revenue of $23.37 billion during the quarter, compared to analyst estimates of $21.51 billion. KE had a return on equity of 6.74% and a net margin of 5.32%. KE's revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, equities research analysts anticipate that KE Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on BEKE shares. Citigroup started coverage on KE in a research note on Tuesday, September 10th. They issued a "buy" rating and a $23.80 price target on the stock. Bank of America upgraded shares of KE from a "neutral" rating to a "buy" rating and upped their price target for the company from $24.00 to $28.00 in a report on Wednesday, October 30th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $25.90.

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.