Russell Investments Group Ltd. lowered its holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC) by 14.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 449,524 shares of the company’s stock after selling 75,101 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kingsoft Cloud were worth $19,529,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. State of New Jersey Common Pension Fund D raised its holdings in shares of Kingsoft Cloud by 9.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 81,358 shares of the company’s stock valued at $2,403,000 after buying an additional 7,176 shares during the period. KAMES CAPITAL plc raised its holdings in shares of Kingsoft Cloud by 141.6% in the 3rd quarter. KAMES CAPITAL plc now owns 170,600 shares of the company’s stock valued at $5,019,000 after buying an additional 100,000 shares during the period. LA Financiere DE L Echiquier purchased a new stake in shares of Kingsoft Cloud in the 3rd quarter valued at $2,537,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Kingsoft Cloud in the 3rd quarter valued at $193,000. Finally, First Trust Advisors LP purchased a new stake in shares of Kingsoft Cloud in the 3rd quarter valued at $187,581,000. Institutional investors own 18.39% of the company’s stock.
Several research analysts recently commented on KC shares. Zacks Investment Research raised Kingsoft Cloud from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Thursday, February 18th. CLSA started coverage on Kingsoft Cloud in a research note on Tuesday, November 3rd. They set a “buy” rating for the company. Finally, Jefferies Financial Group started coverage on Kingsoft Cloud in a research note on Tuesday, January 5th. They set a “buy” rating and a $55.00 target price for the company. Six investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $48.50.
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 businesses among others.
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