Kingsoft Cloud Holdings Limited (NASDAQ:KC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 100,609 shares of the company’s stock after selling 6,531 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kingsoft Cloud were worth $296,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of KC. Jane Street Group LLC grew its stake in Kingsoft Cloud by 383.5% during the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after purchasing an additional 255,795 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Kingsoft Cloud during the third quarter worth about $326,000. State Street Corp grew its position in shares of Kingsoft Cloud by 0.5% during the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after buying an additional 3,104 shares in the last quarter. Blue Trust Inc. raised its holdings in Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after acquiring an additional 4,458 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Kingsoft Cloud in the third quarter worth approximately $47,000. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Stock Performance

Shares of KC stock opened at $13.28 on Friday. The stock’s 50-day moving average is $9.34 and its two-hundred day moving average is $5.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. Kingsoft Cloud Holdings Limited has a 1 year low of $2.02 and a 1 year high of $13.38. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -11.07 and a beta of 2.29.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KC shares. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.20 to $12.50 in a research report on Friday, December 6th. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the company from $2.30 to $6.70 in a research note on Friday, November 22nd. Finally, Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Kingsoft Cloud has an average rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.