Appaloosa LP Raises Stake in KE Holdings Inc. (NYSE:BEKE)

Appaloosa LP boosted its position in KE Holdings Inc. (NYSE:BEKE) by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,574,074 shares of the company’s stock after buying an additional 399,074 shares during the period. KE makes up approximately 0.7% of Appaloosa LP’s investment portfolio, making the stock its 28th largest holding. Appaloosa LP owned 0.21% of KE worth $47,414,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in KE in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in KE in the fourth quarter valued at approximately $30,000. Principal Securities Inc. boosted its position in KE by 411.9% in the fourth quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock valued at $38,000 after buying an additional 1,664 shares during the last quarter. Rakuten Securities Inc. boosted its position in KE by 334,500.0% in the third quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock valued at $67,000 after buying an additional 3,345 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in KE by 5,089.9% in the third quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock valued at $82,000 after buying an additional 4,021 shares during the last quarter. Hedge funds and other institutional investors own 39.34% of the company’s stock.

KE Trading Down 4.5 %

Shares of NYSE:BEKE opened at $22.38 on Thursday. KE Holdings Inc. has a 12-month low of $12.48 and a 12-month high of $26.05. The company has a market capitalization of $27.04 billion, a PE ratio of 45.66, a PEG ratio of 3.45 and a beta of -0.82. The business has a 50 day moving average of $19.19 and a two-hundred day moving average of $19.09.

Wall Street Analysts Forecast Growth

Separately, Barclays boosted 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.

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.