VNET Group (NASDAQ:VNET) SVP Zhihua Zhang Sells 9,072 Shares

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) SVP Zhihua Zhang sold 9,072 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1.69, for a total value of $15,331.68. Following the sale, the senior vice president directly owned 33,924 shares in the company, valued at $57,331.56. This trade represents a 21.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $10.09 on Wednesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -34.79 and a beta of 0.19. The business has a 50-day simple moving average of $9.12 and a two-hundred day simple moving average of $9.72. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $5.14 and a fifty-two week high of $14.48.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Monday, March 16th. The information technology services provider reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). VNET Group had a negative net margin of 2.48% and a positive return on equity of 1.36%. The company had revenue of $384.07 million for the quarter, compared to analysts’ expectations of $368.64 million. On average, analysts expect that VNET Group, Inc. – Unsponsored ADR will post 0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VNET has been the subject of a number of research reports. Bank of America reiterated a “buy” rating on shares of VNET Group in a research note on Monday, March 16th. Wall Street Zen raised VNET Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $23.55 target price on shares of VNET Group in a research report on Monday, March 16th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, VNET Group presently has a consensus rating of “Hold” and a consensus target price of $18.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP grew its holdings in VNET Group by 110.3% during the third quarter. GSA Capital Partners LLP now owns 236,240 shares of the information technology services provider’s stock valued at $2,440,000 after purchasing an additional 123,901 shares during the period. Temasek Holdings Private Ltd bought a new position in shares of VNET Group in the third quarter worth about $3,087,000. William Blair Investment Management LLC purchased a new stake in VNET Group in the 3rd quarter worth approximately $15,951,000. DNB Asset Management AS bought a new stake in VNET Group during the 3rd quarter worth approximately $1,744,000. Finally, American Century Companies Inc. raised its stake in VNET Group by 180.3% during the 3rd quarter. American Century Companies Inc. now owns 1,711,976 shares of the information technology services provider’s stock worth $17,685,000 after acquiring an additional 1,101,137 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

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.