VNET Group, Inc. – Unsponsored ADR $VNET is Triata Capital Ltd’s 2nd Largest Position

Triata Capital Ltd boosted its stake in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,498,810 shares of the information technology services provider’s stock after acquiring an additional 550,841 shares during the quarter. VNET Group makes up approximately 12.8% of Triata Capital Ltd’s holdings, making the stock its 2nd largest position. Triata Capital Ltd’s holdings in VNET Group were worth $105,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in shares of VNET Group during the 4th quarter valued at $65,650,000. Farallon Capital Management LLC grew its position in VNET Group by 83.3% in the 3rd quarter. Farallon Capital Management LLC now owns 5,489,120 shares of the information technology services provider’s stock worth $56,703,000 after purchasing an additional 2,495,000 shares during the last quarter. UBS Group AG grew its position in VNET Group by 73.2% in the 3rd quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider’s stock worth $44,250,000 after purchasing an additional 1,809,987 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of VNET Group by 674.8% during the 2nd 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. Finally, Temasek Holdings Private Ltd boosted its position in shares of VNET Group by 988.7% during the 4th 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. Institutional investors own 72.83% of the company’s stock.

Analyst Ratings Changes

VNET has been the subject of several analyst reports. Zacks Research raised shares of VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reiterated an “overweight” rating and issued a $16.00 price target on shares of VNET Group in a report on Wednesday, May 27th. Bank of America set a $16.30 price objective on shares of VNET Group and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.03.

VNET Group Trading Down 3.3%

Shares of VNET Group stock opened at $9.03 on Wednesday. The firm’s 50-day moving average price is $9.30 and its two-hundred day moving average price is $9.79. VNET Group, Inc. – Unsponsored ADR has a 12-month low of $5.31 and a 12-month high of $14.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -6.59 and a beta of 0.25.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $388.47 million. On average, analysts forecast that VNET Group, Inc. – Unsponsored ADR will post 0.24 earnings per share for the current fiscal year.

Insider Activity at VNET Group

In other VNET Group news, Director Sean Shao sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.71, for a total transaction of $102,600.00. Following the completion of the transaction, the director owned 983,820 shares in the company, valued at approximately $1,682,332.20. This trade represents a 5.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Lifeng Chen sold 83,544 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $1.51, for a total transaction of $126,151.44. Following the transaction, the director owned 334,164 shares of the company’s stock, valued at approximately $504,587.64. The trade was a 20.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 152,616 shares of company stock worth $244,083. 12.10% of the stock is owned by corporate insiders.

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.