Allianz Asset Management GmbH Lowers Stock Holdings in KE Holdings Inc. (NYSE:BEKE)

Allianz Asset Management GmbH lessened its stake in KE Holdings Inc. (NYSE:BEKE) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,875,500 shares of the company’s stock after selling 488,149 shares during the period. Allianz Asset Management GmbH’s holdings in KE were worth $34,547,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Maytree Asset Management Ltd purchased a new stake in shares of KE during the fourth quarter worth approximately $415,000. Principal Securities Inc. lifted its stake in shares of KE by 411.9% in the 4th quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock worth $38,000 after acquiring an additional 1,664 shares during the period. Rhumbline Advisers raised its holdings in KE by 10.8% during the fourth quarter. Rhumbline Advisers now owns 95,376 shares of the company’s stock worth $1,757,000 after purchasing an additional 9,330 shares in the last quarter. Vontobel Holding Ltd. lifted its position in KE by 3,315.0% in the fourth quarter. Vontobel Holding Ltd. now owns 944,667 shares of the company’s stock valued at $17,401,000 after purchasing an additional 917,005 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in KE by 15.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 108,084 shares of the company’s stock valued at $1,998,000 after purchasing an additional 14,642 shares during the period. 39.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BEKE. Bank of America raised KE from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $28.00 in a report on Wednesday, October 30th. Barclays upped their price objective on KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, November 25th.

KE Trading Up 3.3 %

Shares of BEKE opened at $20.89 on Monday. KE Holdings Inc. has a twelve month low of $12.44 and a twelve month high of $26.05. The firm has a market capitalization of $25.25 billion, a P/E ratio of 42.64, a PEG ratio of 3.34 and a beta of -0.76. The firm’s 50-day moving average is $18.09 and its two-hundred day moving average is $18.39.

About KE

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.