Deutsche Bank AG Sells 52,024 Shares of Kingsoft Cloud Holdings Limited Sponsored ADR $KC

Key Points

• Deutsche Bank AG sold 52,024 shares of Kingsoft Cloud Holdings, lowering its position by 23.5%, now owning approximately 0.06% of the company valued at $2,432,000.
• Institutional investors collectively own 13.40% of Kingsoft Cloud, with several firms such as Millennium Management significantly increasing their stakes.
• Kingsoft Cloud has faced mixed analyses, with Wall Street recently downgrading it to a "sell" while another analyst upgraded to a "strong-buy," demonstrating varied market sentiment.

Deutsche Bank AG lowered its position in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) by 23.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,360 shares of the company's stock after selling 52,024 shares during the period. Deutsche Bank AG owned approximately 0.06% of Kingsoft Cloud worth $2,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Man Group plc bought a new stake in shares of Kingsoft Cloud during the fourth quarter valued at approximately $711,000. Invesco Ltd. boosted its holdings in Kingsoft Cloud by 8.4% in the fourth quarter. Invesco Ltd. now owns 62,855 shares of the company's stock worth $659,000 after purchasing an additional 4,878 shares during the last quarter. Two Sigma Advisers LP grew its position in Kingsoft Cloud by 13.8% in the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock worth $285,000 after purchasing an additional 3,300 shares during the period. Millennium Management LLC grew its position in Kingsoft Cloud by 4,098.3% in the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock worth $9,389,000 after purchasing an additional 873,686 shares during the period. Finally, Marshall Wace LLP bought a new stake in Kingsoft Cloud in the 4th quarter worth approximately $119,000. Institutional investors own 13.40% of the company's stock.

Kingsoft Cloud Stock Performance

Shares of NASDAQ KC opened at $13.80 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $3.86 billion, a P/E ratio of -12.55 and a beta of 2.10. The firm's fifty day moving average is $13.42 and its two-hundred day moving average is $14.34. Kingsoft Cloud Holdings Limited Sponsored ADR has a 52-week low of $2.02 and a 52-week high of $22.26.

Wall Street Analysts Forecast Growth

KC has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Kingsoft Cloud from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price for the company in a research report on Monday, May 5th. Finally, Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $15.40.

Kingsoft Cloud Company 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.

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