Artisan Partners Limited Partnership grew its position in Kingsoft Cloud Holdings Limited (NASDAQ:KC – Free Report) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 647,103 shares of the company’s stock after buying an additional 14,277 shares during the period. Artisan Partners Limited Partnership owned approximately 0.26% of Kingsoft Cloud worth $3,947,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Kingsoft Cloud by 220.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company’s stock worth $30,000 after purchasing an additional 3,400 shares during the period. Tower Research Capital LLC TRC boosted its stake in Kingsoft Cloud by 310.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 22,112 shares of the company’s stock worth $44,000 after purchasing an additional 16,721 shares during the period. BNP Paribas Arbitrage SNC acquired a new position in Kingsoft Cloud in the 3rd quarter worth $61,000. Shell Asset Management Co. acquired a new position in Kingsoft Cloud in the 2nd quarter worth $64,000. Finally, GSA Capital Partners LLP bought a new stake in Kingsoft Cloud during the 4th quarter worth about $65,000. Institutional investors and hedge funds own 17.68% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, The Goldman Sachs Group boosted their price target on shares of Kingsoft Cloud from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 23rd.
Kingsoft Cloud Stock Performance
Shares of KC opened at $5.31 on Friday. Kingsoft Cloud Holdings Limited has a 52 week low of $2.35 and a 52 week high of $10.13. The firm has a market cap of $1.35 billion, a P/E ratio of -3.71 and a beta of 2.40. The firm’s 50-day simple moving average is $4.90 and its 200 day simple moving average is $5.38.
Kingsoft Cloud (NASDAQ:KC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 22nd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Kingsoft Cloud had a negative net margin of 30.85% and a negative return on equity of 25.92%. The company had revenue of $253.11 million during the quarter, compared to analyst estimates of $270.84 million. As a group, equities analysts forecast that Kingsoft Cloud Holdings Limited will post -1.04 earnings per share for the current year.
Kingsoft Cloud Profile
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations 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, storage, and delivery solutions.
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