Verition Fund Management LLC Sells 663,987 Shares of KE Holdings Inc. (NYSE:BEKE)

Verition Fund Management LLC decreased its stake in KE Holdings Inc. (NYSE:BEKE) by 66.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 336,013 shares of the company’s stock after selling 663,987 shares during the quarter. Verition Fund Management LLC’s holdings in KE were worth $6,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in KE during the 3rd quarter worth $1,124,000. Swedbank AB bought a new position in shares of KE during the 1st quarter valued at about $3,393,000. Lighthouse Investment Partners LLC acquired a new position in shares of KE in the 2nd quarter valued at approximately $1,142,000. SG Americas Securities LLC increased its stake in KE by 37.6% during the 2nd quarter. SG Americas Securities LLC now owns 235,853 shares of the company’s stock worth $3,337,000 after purchasing an additional 64,449 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in KE during the 2nd quarter worth approximately $627,000. Institutional investors own 39.34% of the company’s stock.

KE Trading Down 0.8 %

KE stock opened at $18.85 on Monday. The company has a fifty day simple moving average of $20.93 and a 200 day simple moving average of $17.19. KE Holdings Inc. has a 1-year low of $12.44 and a 1-year high of $26.05. The company has a market cap of $22.78 billion, a P/E ratio of 38.47, a price-to-earnings-growth ratio of 4.34 and a beta of -0.73.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BEKE. Barclays increased their price objective on shares of KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Citigroup assumed 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. Finally, Bank of America raised KE from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th.

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.