KE (NYSE:BEKE) Shares Gap Up – Here’s Why

Shares of KE Holdings Inc. (NYSE:BEKE) gapped up before the market opened on Wednesday . The stock had previously closed at $19.61, but opened at $20.60. KE shares last traded at $20.23, with a volume of 1,547,643 shares changing hands.

Analyst Ratings Changes

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

KE Price Performance

The company has a 50-day moving average price of $18.07 and a two-hundred day moving average price of $18.27. The company has a market cap of $25.25 billion, a PE ratio of 42.64, a P/E/G ratio of 3.30 and a beta of -0.76.

Institutional Investors Weigh In On KE

Several institutional investors and hedge funds have recently modified their holdings of BEKE. Canada Pension Plan Investment Board boosted its position in shares of KE by 111,822,650.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company’s stock worth $205,978,000 after buying an additional 11,182,265 shares during the period. Norges Bank purchased a new stake in shares of KE in the fourth quarter worth about $130,167,000. Aspex Management HK Ltd purchased a new stake in shares of KE in the fourth quarter worth about $119,996,000. H Capital V GP L.P. acquired a new position in shares of KE in the fourth quarter worth about $91,147,000. Finally, Nuveen Asset Management LLC lifted its stake in shares of KE by 504.2% in the fourth quarter. Nuveen Asset Management LLC now owns 5,643,271 shares of the company’s stock worth $103,949,000 after acquiring an additional 4,709,266 shares in the last quarter. Hedge funds and other institutional investors own 39.34% of the company’s stock.

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.