Allianz Asset Management GmbH Reduces Holdings in KE Holdings Inc. (NYSE:BEKE)

Allianz Asset Management GmbH lowered its position in shares of KE Holdings Inc. (NYSE:BEKE) by 20.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,875,500 shares of the company’s stock after selling 488,149 shares during the period. Allianz Asset Management GmbH owned approximately 0.16% of KE worth $34,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in KE by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 58,758 shares of the company’s stock worth $1,170,000 after acquiring an additional 1,271 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in KE in the 3rd quarter valued at about $30,000. Principal Securities Inc. lifted its position in KE by 411.9% in the fourth quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock valued at $38,000 after buying an additional 1,664 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of KE by 6.6% during the third quarter. Crossmark Global Holdings Inc. now owns 27,201 shares of the company’s stock valued at $541,000 after acquiring an additional 1,692 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of KE by 41.6% in the 3rd quarter. US Bancorp DE now owns 6,203 shares of the company’s stock valued at $124,000 after acquiring an additional 1,823 shares during the period. Hedge funds and other institutional investors own 39.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BEKE. Barclays boosted their target price on KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Bank of America upgraded KE from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $28.00 in a report on Wednesday, October 30th.

KE Stock Up 3.3 %

NYSE BEKE opened at $20.89 on Monday. KE Holdings Inc. has a 52 week low of $12.44 and a 52 week high of $26.05. The firm has a 50 day moving average of $18.09 and a two-hundred day moving average of $18.39. The stock has a market capitalization of $25.25 billion, a PE ratio of 42.64, a price-to-earnings-growth ratio of 3.34 and a beta of -0.76.

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.