Verition Fund Management LLC Sells 663,987 Shares of KE Holdings Inc. (NYSE:BEKE)

Verition Fund Management LLC lowered its position in KE Holdings Inc. (NYSE:BEKE) by 66.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 336,013 shares of the company’s stock after selling 663,987 shares during the quarter. Verition Fund Management LLC’s holdings in KE were worth $6,690,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings 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 valued at $45,000 after purchasing an additional 3,168 shares during the last quarter. Rakuten Securities Inc. boosted its stake 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 worth $67,000 after acquiring an additional 3,345 shares during the period. Venturi Wealth Management LLC increased its holdings 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 worth $82,000 after acquiring an additional 4,021 shares during the last quarter. US Bancorp DE raised its stake in KE by 41.6% in the 3rd quarter. US Bancorp DE now owns 6,203 shares of the company’s stock valued at $124,000 after acquiring an additional 1,823 shares during the period. Finally, Signaturefd LLC lifted its holdings in 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 purchasing an additional 866 shares during the last quarter. Institutional investors own 39.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup initiated coverage on shares of KE in a report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price objective on the stock. Bank of America upgraded shares of KE from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $28.00 in a research note on Wednesday, October 30th. Finally, Barclays increased their price target on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 25th.

KE Stock Performance

BEKE opened at $18.85 on Monday. The stock has a fifty day moving average of $20.93 and a 200-day moving average of $17.19. KE Holdings Inc. has a fifty-two week low of $12.44 and a fifty-two week high of $26.05. The company has a market capitalization of $22.78 billion, a P/E ratio of 38.47, a P/E/G ratio of 4.34 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.