Jennison Associates LLC Acquires 1,157,272 Shares of KE Holdings Inc. (NYSE:BEKE)

Jennison Associates LLC grew its holdings in KE Holdings Inc. (NYSE:BEKE) by 72.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,761,520 shares of the company’s stock after acquiring an additional 1,157,272 shares during the quarter. Jennison Associates LLC owned 0.23% of KE worth $50,867,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Central Asset Investments & Management Holdings HK Ltd bought a new stake in KE during the 3rd quarter worth approximately $1,124,000. XTX Topco Ltd increased its position in shares of KE by 324.8% during the third quarter. XTX Topco Ltd now owns 117,780 shares of the company’s stock worth $2,345,000 after acquiring an additional 90,054 shares in the last quarter. TT International Asset Management LTD acquired a new stake in shares of KE during the fourth quarter worth $717,000. Headwater Capital Co Ltd bought a new stake in KE in the 4th quarter valued at $11,052,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in KE by 5.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,583,585 shares of the company’s stock worth $31,529,000 after purchasing an additional 76,517 shares in the last quarter. Institutional investors and hedge funds own 39.34% of the company’s stock.

Analyst Ratings Changes

BEKE has been the subject of several recent research reports. Bank of America raised KE from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th. Barclays raised their price target on shares of KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th.

KE Stock Performance

BEKE opened at $17.39 on Wednesday. The business’s 50-day simple moving average is $18.08 and its 200 day simple moving average is $17.85. KE Holdings Inc. has a 52-week low of $12.44 and a 52-week high of $26.05. The firm has a market capitalization of $21.01 billion, a PE ratio of 35.48, a PEG ratio of 2.88 and a beta of -0.76.

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.