KE (NYSE:BEKE) Stock Price Down 4.2% – Here’s What Happened

KE Holdings Inc. (NYSE:BEKE)’s stock price was down 4.2% during trading on Wednesday . The stock traded as low as $22.01 and last traded at $22.30. Approximately 2,495,020 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 9,343,689 shares. The stock had previously closed at $23.27.

Analysts Set New Price Targets

Separately, Barclays boosted their target price on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 25th.

KE Stock Performance

The company’s 50 day moving average price is $19.68 and its 200 day moving average price is $19.38. The company has a market cap of $26.86 billion, a price-to-earnings ratio of 45.42, a P/E/G ratio of 3.45 and a beta of -0.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. lifted its position in KE by 5.1% during the 4th quarter. QRG Capital Management Inc. now owns 14,395 shares of the company’s stock worth $265,000 after buying an additional 703 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in KE by 8.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,379 shares of the company’s stock worth $173,000 after buying an additional 762 shares in the last quarter. Rakuten Securities Inc. lifted its position in KE by 42.3% during the 4th quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock worth $88,000 after buying an additional 1,416 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in KE during the 3rd quarter worth about $30,000. Finally, SBI Securities Co. Ltd. acquired a new position in KE during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 39.34% of the company’s stock.

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.