Tekne Capital Management LLC Has $148.44 Million Position in GDS Holdings $GDS

Key Points

• Tekne Capital Management LLC has reduced its stake in GDS Holdings by 5.4%, now holding approximately 5.86 million shares, which represents 56.6% of its investment portfolio.
• Analysts have recently upgraded their ratings on GDS, with Bank of America raising its price target from $47.60 to $50.60, while JPMorgan increased its target from $34.00 to $46.00.
• The stock has seen significant interest from various institutional investors, with holdings expanding by over 2,390% from some entities during the first quarter.

Tekne Capital Management LLC cut its holdings in GDS Holdings (NASDAQ:GDS - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,860,211 shares of the company's stock after selling 334,310 shares during the quarter. GDS comprises 56.6% of Tekne Capital Management LLC's portfolio, making the stock its largest position. Tekne Capital Management LLC owned approximately 3.08% of GDS worth $148,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group boosted its stake in GDS by 2,390.0% in the first quarter. Brooklyn Investment Group now owns 996 shares of the company's stock valued at $25,000 after acquiring an additional 956 shares during the last quarter. Summit Securities Group LLC bought a new position in GDS in the first quarter valued at approximately $26,000. Wells Fargo & Company MN boosted its stake in GDS by 1,904.2% in the fourth quarter. Wells Fargo & Company MN now owns 3,788 shares of the company's stock valued at $90,000 after acquiring an additional 3,599 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in GDS in the first quarter valued at approximately $125,000. Finally, Harvest Fund Management Co. Ltd bought a new position in GDS in the first quarter valued at approximately $176,000. 33.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GDS. Zacks Research cut shares of GDS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Daiwa Capital Markets reissued a "buy" rating on shares of GDS in a research report on Wednesday, May 28th. Bank of America lifted their price target on shares of GDS from $47.60 to $50.60 and gave the stock a "buy" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. raised shares of GDS from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $34.00 to $46.00 in a research report on Wednesday, July 16th. Finally, JMP Securities lifted their price target on shares of GDS from $40.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $46.93.

GDS Stock Down 1.5%

GDS traded down $0.52 during trading on Monday, hitting $34.56. The company had a trading volume of 3,930,620 shares, compared to its average volume of 2,370,391. The company has a market capitalization of $6.59 billion, a PE ratio of 10.22 and a beta of 0.34. GDS Holdings has a one year low of $15.91 and a one year high of $52.50. The firm's 50-day moving average price is $33.91 and its 200 day moving average price is $30.31. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.71.

GDS Profile

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services.