Swedbank AB Lowers Holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Swedbank AB trimmed its position in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 41.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,640 shares of the company’s stock after selling 93,500 shares during the period. Swedbank AB’s holdings in Kingsoft Cloud were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KC. Blue Trust Inc. boosted its position in shares of Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock worth $56,000 after purchasing an additional 4,458 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Kingsoft Cloud during the 2nd quarter worth $27,000. SG Americas Securities LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter worth $47,000. Renaissance Technologies LLC boosted its position in shares of Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after purchasing an additional 17,700 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock worth $83,000 after purchasing an additional 24,932 shares in the last quarter. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on KC. Bank of America decreased their target price on shares of Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $4.62.

Kingsoft Cloud Trading Up 17.4 %

Shares of KC stock opened at $7.01 on Thursday. The firm has a 50-day moving average price of $3.68 and a 200 day moving average price of $2.99. Kingsoft Cloud Holdings Limited has a twelve month low of $2.02 and a twelve month high of $7.30. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -5.84 and a beta of 2.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

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.