Public Employees Retirement System of Ohio Has $479,000 Stake in Kingsoft Cloud Holdings Limited Sponsored ADR $KC

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Kingsoft Cloud Holdings by 62.8% in the second quarter, holding 38,246 shares worth $479,000.
• Several large investors increased their stakes in Kingsoft Cloud, with Russell Investments Group acquiring a new stake valued at approximately $10.57 million in the first quarter.
• Wall Street analysts generally exhibit a positive outlook on Kingsoft Cloud, with a consensus rating of "Moderate Buy" and an average price target of $17.27.

Public Employees Retirement System of Ohio trimmed its stake in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) by 62.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,246 shares of the company's stock after selling 64,579 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Kingsoft Cloud were worth $479,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of KC. Russell Investments Group Ltd. acquired a new stake in shares of Kingsoft Cloud during the 1st quarter worth about $10,573,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Kingsoft Cloud by 50.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,217,394 shares of the company's stock worth $17,482,000 after acquiring an additional 410,492 shares during the last quarter. XY Capital Ltd boosted its holdings in shares of Kingsoft Cloud by 303.1% during the first quarter. XY Capital Ltd now owns 348,912 shares of the company's stock worth $5,010,000 after acquiring an additional 262,345 shares during the period. OLD Mission Capital LLC acquired a new position in shares of Kingsoft Cloud in the first quarter valued at approximately $3,034,000. Finally, Dorsey Wright & Associates acquired a new position in shares of Kingsoft Cloud in the first quarter valued at approximately $2,044,000. 13.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on KC shares. Deutsche Bank Aktiengesellschaft initiated coverage on Kingsoft Cloud in a research note on Tuesday, September 16th. They set a "buy" rating and a $21.00 target price on the stock. Bank of America upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 9th. Wall Street Zen raised Kingsoft Cloud from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Kingsoft Cloud in a research note on Saturday, September 27th. Finally, Zacks Research upgraded shares of Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.27.

Kingsoft Cloud Trading Down 2.2%

KC opened at $15.26 on Monday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -13.39 and a beta of 2.14. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. Kingsoft Cloud Holdings Limited Sponsored ADR has a twelve month low of $2.57 and a twelve month high of $22.26. The company has a 50-day simple moving average of $14.82 and a 200 day simple moving average of $13.77.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.