KE (NYSE:BEKE) Shares Gap Down to $15.81

KE Holdings Inc. (NYSE:BEKE)’s share price gapped down before the market opened on Friday . The stock had previously closed at $15.81, but opened at $15.31. KE shares last traded at $15.34, with a volume of 736,806 shares trading hands.

Analyst Ratings Changes

BEKE has been the subject of several research reports. HSBC lowered their price objective on shares of KE from $23.90 to $21.80 and set a “buy” rating for the company in a research note on Friday, March 15th. Citigroup reiterated a “buy” rating and issued a $21.10 price target on shares of KE in a report on Tuesday, March 19th. Finally, Barclays lifted their price objective on shares of KE from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th.

KE Trading Down 3.4 %

The firm has a market cap of $18.84 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 3.31 and a beta of -0.75. The company has a fifty day moving average price of $16.41 and a 200-day moving average price of $14.91.

KE (NYSE:BEKE) last released its quarterly earnings data on Thursday, May 23rd. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.20 billion. KE had a return on equity of 6.04% and a net margin of 4.80%. As a group, research analysts forecast that KE Holdings Inc. will post 0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KE

Several hedge funds have recently modified their holdings of the company. M&G Plc purchased a new position in shares of KE during the 1st quarter valued at approximately $135,880,000. Price T Rowe Associates Inc. MD lifted its holdings in KE by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,363,638 shares of the company’s stock valued at $526,734,000 after purchasing an additional 4,736,152 shares in the last quarter. Coatue Management LLC grew its position in shares of KE by 169.7% in the fourth quarter. Coatue Management LLC now owns 5,015,918 shares of the company’s stock valued at $81,308,000 after purchasing an additional 3,155,995 shares during the period. Capital World Investors increased its stake in shares of KE by 24.9% during the fourth quarter. Capital World Investors now owns 13,861,852 shares of the company’s stock worth $224,701,000 after purchasing an additional 2,763,209 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of KE during the 4th quarter worth about $43,492,000. 39.34% of the stock is owned by hedge funds and other institutional investors.

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.