IDG Accel China Capital GP II Associates Ltd. decreased its position in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,954,864 shares of the company’s stock after selling 32,893 shares during the quarter. Kingsoft Cloud comprises about 94.6% of IDG Accel China Capital GP II Associates Ltd.’s investment portfolio, making the stock its largest holding. IDG Accel China Capital GP II Associates Ltd. owned about 2.22% of Kingsoft Cloud worth $194,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in KC. UBS Asset Management Americas Inc. lifted its holdings in Kingsoft Cloud by 3.5% in the first quarter. UBS Asset Management Americas Inc. now owns 180,284 shares of the company’s stock worth $7,089,000 after purchasing an additional 6,057 shares during the period. Krane Funds Advisors LLC lifted its holdings in Kingsoft Cloud by 4.0% in the first quarter. Krane Funds Advisors LLC now owns 756,132 shares of the company’s stock worth $29,731,000 after purchasing an additional 28,752 shares during the period. Artisan Partners Limited Partnership acquired a new stake in Kingsoft Cloud in the first quarter worth about $5,135,000. E Fund Management Co. Ltd. acquired a new stake in Kingsoft Cloud in the first quarter worth about $2,494,000. Finally, Swiss National Bank lifted its holdings in Kingsoft Cloud by 11.5% in the first quarter. Swiss National Bank now owns 140,716 shares of the company’s stock worth $5,533,000 after purchasing an additional 14,500 shares during the period. 26.87% of the stock is owned by institutional investors.

Get Kingsoft Cloud alerts: KC has been the subject of several research analyst reports. Zacks Investment Research raised shares of Kingsoft Cloud from a “sell” rating to a “hold” rating in a report on Wednesday, May 19th. Macquarie cut their price objective on Kingsoft Cloud from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, May 19th.

Shares of KC traded down $0.12 during trading hours on Thursday, reaching $28.26. The company’s stock had a trading volume of 68,738 shares, compared to its average volume of 1,681,942. The company has a market cap of $6.31 billion, a price-to-earnings ratio of -33.39 and a beta of 1.74. Kingsoft Cloud Holdings Limited has a 1-year low of $24.03 and a 1-year high of $74.67. The firm has a 50 day moving average of $33.64.

Kingsoft Cloud (NASDAQ:KC) last announced its quarterly earnings results on Monday, May 17th. The company reported ($0.98) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.78). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.90 billion. Kingsoft Cloud had a negative net margin of 14.33% and a negative return on equity of 12.59%. Kingsoft Cloud’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, research analysts predict that Kingsoft Cloud Holdings Limited will post -0.85 EPS for the current year.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; enterprise cloud services to customers in financial service, public service, and healthcare business, and others.

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