Northern Trust Corp Sells 6,896 Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Northern Trust Corp lowered its stake in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 29.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,688 shares of the company’s stock after selling 6,896 shares during the quarter. Northern Trust Corp’s holdings in Kingsoft Cloud were worth $175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KC. Mirae Asset Global Investments Co. Ltd. raised its position in Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares during the last quarter. Invesco Ltd. boosted its position in Kingsoft Cloud by 8.4% during the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock worth $659,000 after acquiring an additional 4,878 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Kingsoft Cloud in the 4th quarter valued at about $119,000. XY Capital Ltd increased its holdings in Kingsoft Cloud by 19.1% during the fourth quarter. XY Capital Ltd now owns 86,567 shares of the company’s stock worth $908,000 after buying an additional 13,909 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Kingsoft Cloud during the 4th quarter worth approximately $226,000. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Trading Up 0.7%

Shares of KC opened at $11.25 on Tuesday. The business’s 50-day moving average price is $13.17 and its 200-day moving average price is $12.80. The stock has a market cap of $3.09 billion, a PE ratio of -9.38 and a beta of 2.24. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. Kingsoft Cloud Holdings Limited has a twelve month low of $2.02 and a twelve month high of $22.26.

Kingsoft Cloud (NASDAQ:KC) last released its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. Kingsoft Cloud’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, equities analysts forecast that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KC. Nomura raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 price objective for the company in a research note on Monday, May 5th. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 5th.

About Kingsoft Cloud

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.