VNET Group (NASDAQ:VNET) Director Sells $126,151.44 in Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Director David Lifeng Chen sold 83,544 shares of VNET Group stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.51, for a total transaction of $126,151.44. Following the sale, the director directly owned 334,164 shares in the company, valued at approximately $504,587.64. The trade was a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

VNET Group Trading Down 1.8%

VNET opened at $8.81 on Wednesday. The stock has a market capitalization of $2.37 billion, a PE ratio of -30.38 and a beta of 0.01. VNET Group, Inc. – Unsponsored ADR has a one year low of $4.65 and a one year high of $14.48. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.90 and a current ratio of 0.92. The business’s 50 day moving average price is $10.96 and its 200 day moving average price is $9.93.

VNET Group (NASDAQ:VNET) last posted its earnings results on Monday, March 16th. The information technology services provider reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04). VNET Group had a positive return on equity of 1.36% and a negative net margin of 2.48%.The business had revenue of $384.07 million for the quarter, compared to analyst estimates of $368.64 million. As a group, equities research analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of VNET Group in the 2nd quarter valued at about $54,199,000. Temasek Holdings Private Ltd raised its holdings in VNET Group by 988.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 3,253,150 shares of the information technology services provider’s stock valued at $27,522,000 after acquiring an additional 2,954,350 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in VNET Group by 674.8% in the second quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock valued at $23,067,000 after acquiring an additional 2,911,604 shares in the last quarter. Infini Capital Management Ltd lifted its stake in VNET Group by 39.2% in the second quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock worth $67,331,000 after acquiring an additional 2,747,661 shares during the last quarter. Finally, Farallon Capital Management LLC lifted its stake in VNET Group by 83.3% in the third quarter. Farallon Capital Management LLC now owns 5,489,120 shares of the information technology services provider’s stock worth $56,703,000 after acquiring an additional 2,495,000 shares during the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on VNET. Jefferies Financial Group restated a “buy” rating and issued a $23.55 price objective on shares of VNET Group in a report on Monday, March 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Finally, Bank of America reissued a “buy” rating on shares of VNET Group in a research note on Monday, March 16th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.08.

VNET Group Company 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.