Jennison Associates LLC Purchases 1,157,272 Shares of KE Holdings Inc. (NYSE:BEKE)

Jennison Associates LLC increased its position in KE Holdings Inc. (NYSE:BEKE) by 72.1% during the fourth quarter, Holdings Channel reports. The firm owned 2,761,520 shares of the company’s stock after buying an additional 1,157,272 shares during the quarter. Jennison Associates LLC’s holdings in KE were worth $50,867,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of KE in the third quarter valued at approximately $30,000. Rakuten Securities Inc. raised its stake in KE by 334,500.0% in 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 period. Venturi Wealth Management LLC lifted its holdings in KE by 5,089.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock valued at $82,000 after purchasing an additional 4,021 shares during the last quarter. US Bancorp DE increased its holdings in shares of 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 during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of KE in the third quarter valued at about $219,000. 39.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on BEKE shares. Bank of America raised shares of KE from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $28.00 in a report on Wednesday, October 30th. Barclays upped their target price on KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, November 25th.

KE Stock Performance

BEKE stock opened at $17.39 on Wednesday. KE Holdings Inc. has a 52 week low of $12.44 and a 52 week high of $26.05. The company has a market capitalization of $21.01 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 2.88 and a beta of -0.76. The company’s 50-day simple moving average is $18.08 and its 200 day simple moving average is $17.85.

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.