Temasek Holdings Private Ltd Has $12.13 Million Holdings in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Temasek Holdings reduced its VNET Group stake by 55.6% in the first quarter, leaving it with 1,446,000 shares worth about $12.13 million.
• VNET shares were trading up 0.4% at $7.71, but the stock remains near its 1-year low of $7.10 and well below its 1-year high of $14.48.
• The company reported a wider-than-expected quarterly loss, with EPS of ($1.20) versus estimates for a much smaller loss, while analysts still maintain a consensus rating of Moderate Buy with an average target price of $17.40.

Temasek Holdings Private Ltd cut its position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 55.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 owned 0.53% of VNET Group worth $12,132,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in VNET. Dimensional Fund Advisors LP increased its holdings in VNET Group by 16.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,470,654 shares of the information technology services provider's stock worth $12,330,000 after buying an additional 209,694 shares during the last quarter. Parallel Advisors LLC grew its position in VNET Group by 26.8% in the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider's stock worth $46,000 after acquiring an additional 1,160 shares in the last quarter. Dorsey Wright & Associates increased its stake in shares of VNET Group by 41.8% during the 1st quarter. Dorsey Wright & Associates now owns 315,553 shares of the information technology services provider's stock worth $2,647,000 after purchasing an additional 93,071 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of VNET Group by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 118,897 shares of the information technology services provider's stock worth $998,000 after purchasing an additional 4,762 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in shares of VNET Group by 37.9% during the 1st quarter. Diversify Wealth Management LLC now owns 268,672 shares of the information technology services provider's stock valued at $2,230,000 after purchasing an additional 73,773 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Trading Up 0.4%

Shares of VNET opened at $7.71 on Wednesday. VNET Group, Inc. - Unsponsored ADR has a 1 year low of $7.10 and a 1 year high of $14.48. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 3.99. The stock has a 50 day simple moving average of $8.95 and a 200-day simple 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.

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

Insider Activity at VNET Group

In other VNET Group news, Director Sean Shao sold 60,000 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the transaction, the director owned 983,820 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. 12.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VNET shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $16.00 price objective on shares of VNET Group in a research note on Wednesday, May 27th. Bank of America set a $16.30 target price on VNET Group and gave the company a "buy" rating in a report on Tuesday, May 26th. Wall Street Zen cut shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Weiss Ratings reissued a "sell (d+)" rating on shares of VNET Group in a research report on Wednesday, July 15th. Finally, Zacks Research raised shares of VNET Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.40.

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.

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