Sompo Asset Management Co. Ltd. Decreases Position in KE Holdings Inc. (NYSE:BEKE)

Sompo Asset Management Co. Ltd. decreased its stake in KE Holdings Inc. (NYSE:BEKE) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,170 shares of the company’s stock after selling 2,580 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in KE were worth $382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of KE by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 994,515 shares of the company’s stock worth $19,801,000 after buying an additional 103,720 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in shares of KE in the third quarter worth about $2,328,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of KE in the third quarter worth about $14,019,000. Jennison Associates LLC lifted its stake in shares of KE by 1.5% in the third quarter. Jennison Associates LLC now owns 1,604,248 shares of the company’s stock worth $31,941,000 after acquiring an additional 24,166 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of KE in the third quarter worth about $530,000. Hedge funds and other institutional investors own 39.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. 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. Bank of America upgraded KE from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $28.00 in a research note on Wednesday, October 30th.

KE Trading Down 2.9 %

NYSE:BEKE opened at $19.40 on Monday. The firm has a market capitalization of $23.44 billion, a PE ratio of 39.59, a price-to-earnings-growth ratio of 4.39 and a beta of -0.73. The stock has a 50 day moving average of $20.46 and a 200-day moving average of $17.14. KE Holdings Inc. has a 52 week low of $12.44 and a 52 week high of $26.05.

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.