Key Points
- CEO Yongdong Peng sold 16.03 million BEKE shares at an average price of $5.27, generating approximately $84.5 million. The sale reduced his stake by 20.33%, leaving him with 62.82 million shares.
- KE Holdings reported quarterly earnings of $0.42 per share and revenue of $3.61 billion, exceeding analyst estimates of $0.31 EPS and $3.59 billion in revenue.
- Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $23.64; institutional investors and hedge funds own 39.34% of the company.
KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Get Free Report) CEO Yongdong Peng sold 16,033,983 shares of the stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $5.27, for a total value of $84,499,090.41. Following the transaction, the chief executive officer owned 62,824,251 shares in the company, valued at approximately $331,083,802.77. This trade represents a 20.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
KE Stock Performance
BEKE opened at $16.61 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.30 and a quick ratio of 3.30. The business has a fifty day simple moving average of $17.00 and a 200 day simple moving average of $16.51. KE Holdings Inc. Sponsored ADR has a 1 year low of $13.81 and a 1 year high of $19.88. The company has a market capitalization of $18.58 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 0.55 and a beta of -0.26.
KE (NYSE:BEKE - Get Free Report) last posted its earnings results on Friday, August 21st. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.11. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.59 billion. KE had a return on equity of 7.62% and a net margin of 5.38%. Research analysts expect that KE Holdings Inc. Sponsored ADR will post 1.03 EPS for the current year.
Wall Street Analysts Forecast Growth
BEKE has been the topic of several recent research reports. CLSA started coverage on shares of KE in a report on Wednesday, August 19th. They set an "outperform" rating and a $23.80 target price on the stock. Morgan Stanley restated an "overweight" rating on shares of KE in a research note on Friday, August 21st. Zacks Research raised KE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 26th. Wall Street Zen upgraded KE from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of KE in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $23.64.
Check Out Our Latest Report on KE
Hedge Funds Weigh In On KE
Institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of KE during the second quarter valued at about $261,000. Baird Financial Group Inc. grew its holdings in shares of KE by 5.8% during the second quarter. Baird Financial Group Inc. now owns 5,942,507 shares of the company's stock worth $86,345,000 after purchasing an additional 324,707 shares during the last quarter. Carrhae Capital LLP acquired a new position in shares of KE in the second quarter valued at approximately $10,138,000. Nykredit A S acquired a new position in shares of KE in the second quarter valued at approximately $456,000. Finally, Wellington Management Group LLP raised its holdings in KE by 16.0% in the 2nd quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company's stock valued at $129,536,000 after buying an additional 1,231,445 shares during the last quarter. Institutional investors and hedge funds own 39.34% of the company's stock.
About KE
(
Get Free Report)
KE Holdings Inc (NYSE: BEKE) is a technology-driven platform serving China's housing and property-services markets. The company operates the Beike platform, which connects consumers with housing agents, brokers, landlords, developers and other service providers.
Its business includes existing-home and new-home transactions, property rentals, and related services. KE Holdings also provides home renovation and furnishing services, as well as technology and data tools designed to support real estate agents, brokerage stores and property developers.
The company traces its roots to Lianjia, a Chinese real estate brokerage founded in 2001, and launched the Beike platform in 2018.
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