Temasek Holdings Private Ltd Sells 1,807,150 Shares of VNET Group, Inc. – Unsponsored ADR $VNET

Temasek Holdings Private Ltd trimmed its position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 55.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,446,000 shares of the information technology services provider’s stock after selling 1,807,150 shares during the period. Temasek Holdings Private Ltd’s holdings in VNET Group were worth $12,132,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Pinpoint Asset Management Singapore Pte. Ltd. grew its holdings in shares of VNET Group by 1,849.6% in the 4th quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 764,056 shares of the information technology services provider’s stock valued at $6,464,000 after buying an additional 724,865 shares during the period. Norges Bank acquired a new stake in VNET Group during the 4th quarter worth approximately $65,650,000. Triata Capital Ltd lifted its stake in VNET Group by 4.6% in the fourth quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider’s stock valued at $105,740,000 after buying an additional 550,841 shares in the last quarter. Dorsey Wright & Associates lifted its stake in VNET Group by 41.8% in the first quarter. Dorsey Wright & Associates now owns 315,553 shares of the information technology services provider’s stock valued at $2,647,000 after buying an additional 93,071 shares in the last quarter. Finally, AI Squared Management Ltd boosted its holdings in shares of VNET Group by 17.0% in the fourth quarter. AI Squared Management Ltd now owns 441,571 shares of the information technology services provider’s stock valued at $3,736,000 after buying an additional 64,291 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Trading Up 0.4%

Shares of VNET Group stock opened at $7.71 on Wednesday. VNET Group, Inc. – Unsponsored ADR has a 52-week low of $7.10 and a 52-week high of $14.48. The firm has a 50-day moving average of $8.95 and a 200-day moving average of $9.65. The stock has a market cap of $2.09 billion, a PE ratio of -5.63 and a beta of 0.28. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99.

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

Insider Activity at VNET Group

In related news, Director Sean Shao sold 60,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 983,820 shares of the company’s stock, valued at $1,682,332.20. The trade was a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 12.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VNET. Morgan Stanley reissued an “overweight” rating and set a $16.00 price objective on shares of VNET Group in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Deutsche Bank Aktiengesellschaft initiated coverage on VNET Group in a report on Tuesday, July 7th. They issued a “buy” rating and a $12.50 price objective for the company. Zacks Research raised VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of VNET Group in a report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.40.

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.