Sumitomo Mitsui Trust Group Inc. Cuts Position in KE Holdings Inc. (NYSE:BEKE)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of KE Holdings Inc. (NYSE:BEKE) by 8.3% in the fourth quarter, Holdings Channel reports. The firm owned 1,452,453 shares of the company’s stock after selling 131,132 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in KE were worth $26,754,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in KE by 2.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 58,758 shares of the company’s stock worth $1,170,000 after acquiring an additional 1,271 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of KE during the third quarter worth $30,000. Crossmark Global Holdings Inc. boosted its stake in shares of KE by 6.6% in the third quarter. Crossmark Global Holdings Inc. now owns 27,201 shares of the company’s stock valued at $541,000 after purchasing an additional 1,692 shares during the period. US Bancorp DE grew its holdings in KE by 41.6% during the 3rd quarter. US Bancorp DE now owns 6,203 shares of the company’s stock valued at $124,000 after purchasing an additional 1,823 shares in the last quarter. Finally, Creative Planning increased its stake in KE by 7.1% during the 3rd quarter. Creative Planning now owns 30,002 shares of the company’s stock worth $597,000 after buying an additional 1,988 shares during the period. Hedge funds and other institutional investors own 39.34% of the company’s stock.

KE Trading Up 2.5 %

Shares of BEKE opened at $19.49 on Wednesday. The stock has a 50 day moving average of $18.00 and a 200-day moving average of $18.01. KE Holdings Inc. has a 52 week low of $12.44 and a 52 week high of $26.05. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 2.95 and a beta of -0.76.

Wall Street Analysts Forecast Growth

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

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.