Pictet Asset Management Holding SA Has $4.13 Million Position in GDS Holdings $GDS

Key Points

• Pictet Asset Management cut its GDS Holdings stake by 28.1% in the first quarter, ending with 102,607 shares valued at about $4.13 million.
• Wall Street sentiment remains constructive: analysts have an overall Buy rating on GDS, with an average target price of $48.04, despite some recent price-target reductions.
• GDS reported better-than-expected EPS of $1.53 and 23.7% year-over-year revenue growth in its latest quarter, while insider selling by a director and vice president may signal caution.

Pictet Asset Management Holding SA lowered its holdings in GDS Holdings (NASDAQ:GDS - Free Report) by 28.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,607 shares of the company's stock after selling 40,164 shares during the quarter. Pictet Asset Management Holding SA owned 0.05% of GDS worth $4,134,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. AI Squared Management Ltd grew its stake in shares of GDS by 793.5% in the 3rd quarter. AI Squared Management Ltd now owns 98,280 shares of the company's stock valued at $3,803,000 after purchasing an additional 87,280 shares during the period. Hidden Lake Asset Management LP raised its holdings in shares of GDS by 16.3% in the 3rd quarter. Hidden Lake Asset Management LP now owns 205,496 shares of the company's stock worth $7,953,000 after buying an additional 28,806 shares in the last quarter. Aberdeen Group plc lifted its position in shares of GDS by 27.5% during the 4th quarter. Aberdeen Group plc now owns 576,498 shares of the company's stock worth $20,120,000 after buying an additional 124,473 shares during the period. Triata Capital Ltd lifted its position in shares of GDS by 23.5% during the 4th quarter. Triata Capital Ltd now owns 2,974,298 shares of the company's stock worth $103,803,000 after buying an additional 566,345 shares during the period. Finally, Electron Capital Partners LLC boosted its stake in GDS by 52.2% in the 4th quarter. Electron Capital Partners LLC now owns 105,448 shares of the company's stock valued at $3,680,000 after buying an additional 36,166 shares in the last quarter. Institutional investors and hedge funds own 33.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GDS. Weiss Ratings upgraded GDS from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 18th. TD Cowen cut their price objective on GDS from $37.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Morgan Stanley restated an "overweight" rating and issued a $64.00 target price on shares of GDS in a research note on Tuesday, March 17th. Zacks Research raised shares of GDS from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 16th. Finally, Piper Sandler set a $36.00 target price on shares of GDS in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $48.04.

GDS Stock Performance

GDS stock opened at $29.82 on Friday. The business has a fifty day moving average price of $36.70 and a 200 day moving average price of $39.84. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.87 and a quick ratio of 1.87. GDS Holdings has a fifty-two week low of $26.97 and a fifty-two week high of $48.61. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 18.99 and a beta of 0.41.

GDS (NASDAQ:GDS - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $1.56. The company had revenue of $426.12 million for the quarter, compared to analyst estimates of $436.44 million. GDS had a return on equity of 15.62% and a net margin of 23.83%.The business's revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.47 earnings per share. Analysts expect that GDS Holdings will post 5.65 EPS for the current fiscal year.

Insider Transactions at GDS

In other news, Director Judy Qing Ye sold 37,394 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $36.21, for a total transaction of $1,354,036.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Yixin Qian sold 10,000 shares of GDS stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $35.25, for a total value of $352,500.00. Following the completion of the sale, the vice president directly owned 66,865 shares of the company's stock, valued at $2,356,991.25. This trade represents a 13.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.99% of the stock is owned by corporate insiders.

GDS Profile

GDS Holdings Limited, founded in 2001 and headquartered in Shanghai, is a leading network-neutral data center services provider in China. The company operates a portfolio of state-of-the-art data center facilities designed to support the mission-critical IT infrastructure of cloud service providers, internet enterprises, financial institutions, and government entities. GDS was among the first Chinese providers to offer high-density colocation solutions, catering to customers with demanding computing and storage requirements.

GDS specializes in delivering scalable colocation, cross-connect, and interconnection services within its facilities, enabling clients to establish high-speed, low-latency connections to major cloud platforms and internet exchange points.

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