E Fund Management Hong Kong Co. Ltd. lessened its stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,915 shares of the company’s stock after selling 688 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Kingsoft Cloud were worth $472,000 at the end of the most recent reporting period. Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Kingsoft Cloud by 8.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,211 shares of the company’s stock valued at $284,000 after buying an additional 532 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in Kingsoft Cloud by 2.8% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 25,023 shares of the company’s stock worth $984,000 after purchasing an additional 684 shares during the period. American International Group Inc. bought a new position in Kingsoft Cloud during the first quarter worth about $28,000. DnB Asset Management AS lifted its stake in Kingsoft Cloud by 7.6% during the first quarter. DnB Asset Management AS now owns 12,136 shares of the company’s stock worth $477,000 after purchasing an additional 860 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in Kingsoft Cloud by 34.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 3,425 shares of the company’s stock worth $1,228,000 after purchasing an additional 869 shares during the period. Institutional investors and hedge funds own 25.24% of the company’s stock. KC has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Kingsoft Cloud from a “sell” rating to a “hold” rating in a research note on Tuesday, August 3rd. Macquarie cut their price target on shares of Kingsoft Cloud from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, May 19th. [NASDAQ KC] traded down $0.52 during mid-day trading on Friday, hitting $27.56. 451,296 shares of the stock were exchanged, compared to its average volume of 1,419,373. The firm’s fifty day moving average price is $31.38. Kingsoft Cloud Holdings Limited has a twelve month low of $24.03 and a twelve month high of $74.67. Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings data on Monday, May 17th. The company reported ($0.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.78). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.90 billion. Kingsoft Cloud had a negative return on equity of 12.59% and a negative net margin of 14.33%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. Research analysts expect that Kingsoft Cloud Holdings Limited will post -0.95 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 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. Featured Story: Leveraged Buyout (LBO) Want to see what other hedge funds are holding KC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kingsoft Cloud Holdings Limited (NASDAQ:KC). Receive News & Ratings for Kingsoft Cloud analysts' ratings for Kingsoft Cloud and related companies daily email basic/?symbol=NASDAQ:KC&c=Kingsoft+Cloud) .
