JPMorgan Chase & Co. Sells 6,531 Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC)

JPMorgan Chase & Co. reduced its stake in Kingsoft Cloud Holdings Limited (NASDAQ:KCFree Report) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,609 shares of the company’s stock after selling 6,531 shares during the period. JPMorgan Chase & Co.’s holdings in Kingsoft Cloud were worth $296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jane Street Group LLC grew its stake in shares of Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock worth $948,000 after acquiring an additional 255,795 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at about $326,000. State Street Corp boosted its holdings in Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock worth $1,793,000 after purchasing an additional 3,104 shares during the last quarter. Blue Trust Inc. increased its position in Kingsoft Cloud by 30.9% during 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 during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

KC has been the subject of a number of analyst reports. Nomura Securities raised shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $5.93.

Get Our Latest Report on Kingsoft Cloud

Kingsoft Cloud Stock Up 13.1 %

Shares of KC stock opened at $13.28 on Friday. The stock’s fifty day moving average price is $9.34 and its 200 day moving average price is $5.14. Kingsoft Cloud Holdings Limited has a 1-year low of $2.02 and a 1-year high of $13.38. The company has a market cap of $3.37 billion, a price-to-earnings ratio of -11.07 and a beta of 2.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Kingsoft Cloud Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kingsoft Cloud (NASDAQ:KC)

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