Temasek Holdings Private Ltd Grows Position in VNET Group, Inc. – Unsponsored ADR $VNET

Temasek Holdings Private Ltd grew its holdings in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 988.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,253,150 shares of the information technology services provider’s stock after acquiring an additional 2,954,350 shares during the quarter. Temasek Holdings Private Ltd’s holdings in VNET Group were worth $27,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Orion Porfolio Solutions LLC boosted its holdings in shares of VNET Group by 6.1% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider’s stock worth $222,000 after buying an additional 1,237 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in VNET Group by 52.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 1,426 shares during the last quarter. Raymond James Financial Inc. increased its holdings in VNET Group by 14.5% in the 3rd quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock worth $118,000 after acquiring an additional 1,446 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in VNET Group by 13.3% in the 4th quarter. Farther Finance Advisors LLC now owns 13,689 shares of the information technology services provider’s stock worth $116,000 after acquiring an additional 1,611 shares during the last quarter. Finally, Main Management ETF Advisors LLC increased its holdings in VNET Group by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 183,222 shares of the information technology services provider’s stock worth $1,550,000 after acquiring an additional 1,872 shares during the last quarter. 72.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at VNET Group

In related news, Director David Lifeng Chen sold 83,544 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $1.51, for a total value of $126,151.44. Following the sale, the director directly owned 334,164 shares of the company’s stock, valued at $504,587.64. This represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sean Shao sold 60,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the sale, the director directly owned 983,820 shares in the company, valued at approximately $1,682,332.20. This represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 152,616 shares of company stock worth $244,083. 12.10% of the stock is currently owned by company insiders.

VNET Group Stock Performance

Shares of NASDAQ VNET opened at $9.34 on Tuesday. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -6.82 and a beta of 0.24. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 3.99. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $5.31 and a 1-year high of $14.48. The stock’s 50-day moving average is $9.28 and its 200 day moving average is $9.79.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($1.17). VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. The company had revenue of $390.32 million during the quarter, compared to the consensus estimate of $388.47 million. On average, sell-side analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post 0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on VNET shares. Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th. Morgan Stanley reissued an “overweight” rating and issued a $16.00 price objective on shares of VNET Group in a report on Wednesday, May 27th. Jefferies Financial Group reissued a “buy” rating and issued a $24.79 price objective on shares of VNET Group in a report on Tuesday, May 26th. Wall Street Zen upgraded VNET Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.03.

About VNET Group

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.