Triata Capital Ltd Purchases 550,841 Shares of VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Triata Capital Ltd boosted its stake in VNET Group by 4.6% in the fourth quarter, adding 550,841 shares to bring its total holdings to 12,498,810 shares. The position was worth about $105.7 million and made VNET Triata’s second-largest holding.
• Despite strong institutional ownership overall, company insiders have been selling shares recently, including Director David Lifeng Chen and Director Sean Shao. Insiders sold a total of 152,616 shares over the last 90 days.
• VNET shares were trading around $9.03 after a 3.3% decline, and the company recently reported a quarterly EPS miss of $1.20 versus estimates of a loss of just $0.03. Analysts are mixed on the stock, with a consensus rating of Hold and an average price target of $19.03.

Triata Capital Ltd increased its stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 period. VNET Group makes up approximately 12.8% of Triata Capital Ltd's investment portfolio, making the stock its 2nd biggest position. Triata Capital Ltd owned approximately 4.65% of VNET Group worth $105,740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of VNET Group in the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of VNET Group by 52.2% in the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 1,426 shares in the last quarter. Allianz SE bought a new position in shares of VNET Group in the fourth quarter valued at approximately $50,000. Headlands Technologies LLC bought a new position in shares of VNET Group in the second quarter valued at approximately $55,000. Finally, Raymond James Financial Inc. bought a new position in shares of VNET Group in the second quarter valued at approximately $69,000. 72.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director David Lifeng Chen sold 83,544 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.51, for a total value of $126,151.44. Following the completion of the transaction, the director owned 334,164 shares of the company's stock, valued at approximately $504,587.64. This trade represents a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sean Shao sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.71, for a total transaction of $102,600.00. Following the completion of the transaction, the director directly owned 983,820 shares of the company's stock, valued at $1,682,332.20. This represents a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 152,616 shares of company stock valued at $244,083 in the last ninety days. Company insiders own 12.10% of the company's stock.

VNET Group Trading Down 3.3%

Shares of NASDAQ:VNET opened at $9.03 on Wednesday. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -6.59 and a beta of 0.25. VNET Group, Inc. - Unsponsored ADR has a 1-year low of $5.31 and a 1-year high of $14.48. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $9.30 and a 200 day moving average price of $9.79.

VNET Group (NASDAQ:VNET - Get Free Report) 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). VNET Group had a negative return on equity of 31.59% and a negative net margin of 22.01%.The firm had revenue of $390.32 million during the quarter, compared to analyst estimates of $388.47 million. On average, research analysts anticipate that VNET Group, Inc. - Unsponsored ADR will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VNET. Weiss Ratings restated a "sell (d-)" rating on shares of VNET Group in a report on Friday, March 27th. Morgan Stanley restated an "overweight" rating and set a $16.00 target price on shares of VNET Group in a report on Wednesday, May 27th. Bank of America set a $16.30 target price on shares of VNET Group and gave the stock a "buy" rating in a report on Tuesday, May 26th. Zacks Research upgraded shares of VNET Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of VNET Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, VNET Group has an average rating of "Hold" and a consensus price target of $19.03.

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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