Temasek Holdings Private Ltd Invests $3.09 Million in VNET Group, Inc. – Unsponsored ADR $VNET

Temasek Holdings Private Ltd purchased a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 298,800 shares of the information technology services provider’s stock, valued at approximately $3,087,000.

Several other large investors have also modified their holdings of the stock. Envestnet Asset Management Inc. boosted its stake in VNET Group by 21.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 244,888 shares of the information technology services provider’s stock worth $1,690,000 after purchasing an additional 43,392 shares during the period. Wedbush Securities Inc. lifted its stake in shares of VNET Group by 21.7% in the 2nd quarter. Wedbush Securities Inc. now owns 29,164 shares of the information technology services provider’s stock worth $201,000 after acquiring an additional 5,202 shares during the period. Geode Capital Management LLC lifted its stake in shares of VNET Group by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 241,964 shares of the information technology services provider’s stock worth $1,670,000 after acquiring an additional 7,489 shares during the period. SG Americas Securities LLC boosted its holdings in shares of VNET Group by 225.9% in the second quarter. SG Americas Securities LLC now owns 91,200 shares of the information technology services provider’s stock valued at $629,000 after acquiring an additional 63,214 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of VNET Group by 4,085.6% during the second quarter. TD Waterhouse Canada Inc. now owns 50,437 shares of the information technology services provider’s stock worth $333,000 after acquiring an additional 49,232 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Price Performance

VNET Group stock opened at $10.51 on Friday. The firm has a market capitalization of $2.83 billion, a PE ratio of -35.03, a P/E/G ratio of 0.82 and a beta of 0.01. VNET Group, Inc. – Unsponsored ADR has a 52 week low of $4.65 and a 52 week high of $14.48. The firm’s 50-day simple moving average is $11.10 and its 200 day simple moving average is $9.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, VNET Group has an average rating of “Hold” and an average target price of $12.60.

VNET Group Profile

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.