Jennison Associates LLC Raises Position in KE Holdings Inc. (NYSE:BEKE)

Jennison Associates LLC boosted its position in shares of KE Holdings Inc. (NYSE:BEKE) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,604,248 shares of the company’s stock after buying an additional 24,166 shares during the period. Jennison Associates LLC owned 0.13% of KE worth $31,941,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its stake in KE by 5.1% in the 2nd quarter. QRG Capital Management Inc. now owns 14,040 shares of the company’s stock worth $199,000 after purchasing an additional 683 shares in the last quarter. Signaturefd LLC lifted its position in KE by 12.5% during the second quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock worth $110,000 after buying an additional 866 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 buying an additional 1,271 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in KE by 6.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 27,201 shares of the company’s stock valued at $541,000 after buying an additional 1,692 shares in the last quarter. Finally, US Bancorp DE increased 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 worth $124,000 after acquiring 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 Analysts Forecast Growth

Several analysts have recently weighed in on BEKE shares. Citigroup assumed coverage on shares of KE in a research note on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price target for the company. Bank of America upgraded KE from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th.

KE Stock Performance

Shares of KE stock opened at $19.97 on Friday. The business has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $17.11. KE Holdings Inc. has a one year low of $12.44 and a one year high of $26.05. The company has a market cap of $24.41 billion, a PE ratio of 41.60, a P/E/G ratio of 4.53 and a beta of -0.73.

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.