VNET Group (NASDAQ:VNET) Director Sells $126,151.44 in Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Director David Lifeng Chen sold 83,544 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $1.51, for a total transaction of $126,151.44. Following the transaction, the director owned 334,164 shares in the company, valued at $504,587.64. This represents a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

VNET Group Stock Performance

Shares of NASDAQ VNET opened at $8.45 on Friday. The firm’s 50-day moving average price is $10.80 and its 200-day moving average price is $9.92. VNET Group, Inc. – Unsponsored ADR has a 52-week low of $4.65 and a 52-week high of $14.48. The company has a market cap of $2.27 billion, a PE ratio of -29.14 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 2.68.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Monday, March 16th. The information technology services provider reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). VNET Group had a negative net margin of 2.48% and a positive return on equity of 1.36%. The company had revenue of $384.07 million for the quarter, compared to the consensus estimate of $368.64 million. As a group, analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

Institutional Trading of VNET Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC bought a new position in VNET Group in the 3rd quarter worth $15,951,000. DNB Asset Management AS bought a new stake in VNET Group during the third quarter valued at about $1,744,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in VNET Group during the second quarter valued at about $194,000. GSA Capital Partners LLP increased its position in VNET Group by 110.3% in the third quarter. GSA Capital Partners LLP now owns 236,240 shares of the information technology services provider’s stock worth $2,440,000 after buying an additional 123,901 shares in the last quarter. Finally, Temasek Holdings Private Ltd purchased a new stake in VNET Group in the third quarter worth about $3,087,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VNET shares. Jefferies Financial Group restated a “buy” rating and issued a $23.55 price target on shares of VNET Group in a research note on Monday, March 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Finally, Bank of America reissued a “buy” rating on shares of VNET Group in a report on Monday, March 16th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.08.

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.