KE (NYSE:BEKE) Shares Gap Down – Should You Sell?

KE Holdings Inc. (NYSE:BEKE)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $19.98, but opened at $19.34. KE shares last traded at $19.12, with a volume of 1,651,420 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup assumed coverage on KE in a research report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 target price on the stock. Bank of America raised 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 report on Wednesday, October 30th.

KE Stock Performance

The stock has a market cap of $23.60 billion, a price-to-earnings ratio of 41.64, a price-to-earnings-growth ratio of 4.48 and a beta of -0.73. The company has a 50-day simple moving average of $19.65 and a two-hundred day simple moving average of $16.95.

KE (NYSE:BEKE) last posted its quarterly earnings results on Monday, August 12th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $2.06. The firm had revenue of $23.37 billion for the quarter, compared to analyst estimates of $21.51 billion. KE had a return on equity of 6.74% and a net margin of 5.32%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, sell-side analysts predict that KE Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of KE by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,363,638 shares of the company’s stock worth $526,734,000 after acquiring an additional 4,736,152 shares during the period. Capital World Investors boosted its stake in shares of KE by 5.8% during the 1st quarter. Capital World Investors now owns 14,666,625 shares of the company’s stock worth $201,373,000 after acquiring an additional 804,773 shares during the period. M&G PLC boosted its stake in shares of KE by 16.4% during the 3rd quarter. M&G PLC now owns 10,090,834 shares of the company’s stock worth $201,817,000 after acquiring an additional 1,422,667 shares during the period. M&G Plc bought a new position in shares of KE during the 1st quarter worth approximately $135,880,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of KE by 203.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,478,102 shares of the company’s stock worth $128,979,000 after acquiring an additional 4,340,517 shares during the period. 39.34% of the stock is currently owned by institutional investors.

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.