KE (NYSE:BEKE) Stock Price Down 9.1% – Should You Sell?

KE Holdings Inc. (NYSE:BEKE)’s share price dropped 9.1% on Friday . The stock traded as low as $20.75 and last traded at $21.35. Approximately 5,812,508 shares traded hands during trading, a decline of 38% from the average daily volume of 9,401,285 shares. The stock had previously closed at $23.50.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of KE in a research report on Tuesday, September 10th. They set a “buy” rating and a $23.80 target price for the company. Bank of America raised shares of KE from a “neutral” rating to a “buy” rating and increased their target price for the company from $24.00 to $28.00 in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $25.90.

KE Stock Performance

The company has a market capitalization of $25.67 billion, a PE ratio of 45.46, a PEG ratio of 4.87 and a beta of -0.73. The stock’s 50 day moving average is $19.18 and its 200 day moving average is $16.74.

KE (NYSE:BEKE) last announced its quarterly earnings results on Monday, August 12th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $2.06. KE had a net margin of 5.32% and a return on equity of 6.74%. The company had revenue of $23.37 billion for the quarter, compared to analysts’ expectations of $21.51 billion. During the same period in the prior year, the company posted $0.17 EPS. KE’s revenue was up 19.9% compared to the same quarter last year. On average, equities research analysts forecast that KE Holdings Inc. will post 0.68 EPS for the current fiscal year.

Institutional Trading of KE

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in KE by 2,662.2% in the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 3,168 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of KE by 334,500.0% during the 3rd quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock valued at $67,000 after buying an additional 3,345 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of KE by 5,089.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock valued at $82,000 after buying an additional 4,021 shares in the last quarter. Signaturefd LLC raised its position in shares of KE by 12.5% during the 2nd quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock valued at $110,000 after buying an additional 866 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of KE by 41.6% during the 3rd quarter. US Bancorp DE now owns 6,203 shares of the company’s stock valued at $124,000 after buying an additional 1,823 shares in the last quarter. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

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.