Franklin Resources Inc. Increases Holdings in KE Holdings Inc. (NYSE:BEKE)

Franklin Resources Inc. increased its stake in shares of KE Holdings Inc. (NYSE:BEKE) by 191.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 590,139 shares of the company’s stock after purchasing an additional 387,598 shares during the period. Franklin Resources Inc.’s holdings in KE were worth $11,750,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in KE in the 3rd quarter worth about $30,000. Rakuten Securities Inc. boosted its position 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 valued at $67,000 after acquiring an additional 3,345 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of KE by 5,089.9% during the third quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock worth $82,000 after purchasing an additional 4,021 shares in the last quarter. US Bancorp DE raised its stake in KE by 41.6% in the third 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, Signaturefd LLC lifted its position in KE by 12.5% during the second 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.

KE Stock Performance

Shares of KE stock opened at $18.38 on Friday. The company’s 50 day moving average price is $20.32 and its 200-day moving average price is $17.35. KE Holdings Inc. has a 52-week low of $12.44 and a 52-week high of $26.05. The stock has a market capitalization of $22.21 billion, a price-to-earnings ratio of 37.51, a P/E/G ratio of 4.76 and a beta of -0.77.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BEKE. Citigroup initiated coverage on shares of KE in a report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price target on the stock. Barclays raised 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. Finally, Bank of America upgraded KE from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $28.00 in a research report on Wednesday, October 30th.

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.