KE Holdings Inc. (NYSE:BEKE) Stock Position Reduced by Turiya Advisors Asia Ltd

Turiya Advisors Asia Ltd cut its holdings in KE Holdings Inc. (NYSE:BEKE) by 32.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,426,906 shares of the company’s stock after selling 1,643,300 shares during the period. KE comprises about 44.7% of Turiya Advisors Asia Ltd’s holdings, making the stock its 2nd largest position. Turiya Advisors Asia Ltd’s holdings in KE were worth $68,230,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. RWC Asset Advisors US LLC acquired a new stake in shares of KE during the 2nd quarter worth about $70,807,000. ANTIPODES PARTNERS Ltd raised its holdings in KE by 180.3% during the second quarter. ANTIPODES PARTNERS Ltd now owns 4,188,521 shares of the company’s stock worth $59,268,000 after purchasing an additional 2,694,260 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in KE by 1,155.7% during the third quarter. Assenagon Asset Management S.A. now owns 2,353,268 shares of the company’s stock worth $46,854,000 after purchasing an additional 2,165,863 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of KE by 83.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,355,895 shares of the company’s stock worth $47,486,000 after buying an additional 1,528,748 shares during the last quarter. Finally, M&G PLC boosted its holdings in shares of KE by 16.4% in the 3rd quarter. M&G PLC now owns 10,090,834 shares of the company’s stock valued at $201,817,000 after buying an additional 1,422,667 shares in the last quarter. 39.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of KE in a research report 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 lifted their target price for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th.

KE Price Performance

Shares of NYSE:BEKE opened at $19.40 on Monday. The firm has a fifty day moving average price of $20.46 and a 200 day moving average price of $17.14. KE Holdings Inc. has a 1-year low of $12.44 and a 1-year high of $26.05. The stock has a market cap of $23.44 billion, a P/E ratio of 39.59, a P/E/G ratio of 4.26 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.