VNET Group, Inc. – Unsponsored ADR $VNET Holdings Trimmed by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 43.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 880,195 shares of the information technology services provider’s stock after selling 663,983 shares during the period. William Blair Investment Management LLC owned 0.33% of VNET Group worth $7,446,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in VNET Group during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its position in VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 1,426 shares in the last quarter. Headlands Technologies LLC purchased a new position in VNET Group during the 2nd quarter worth approximately $55,000. Persistent Asset Partners Ltd purchased a new position in VNET Group during the 3rd quarter worth approximately $100,000. Finally, Raymond James Financial Inc. purchased a new position in VNET Group during the 2nd quarter worth approximately $69,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VNET shares. Jefferies Financial Group reiterated a “buy” rating and set a $24.79 price objective on shares of VNET Group in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $16.00 target price on shares of VNET Group in a research note on Wednesday. Zacks Research lowered shares of VNET Group from a “hold” rating to a “strong sell” rating in a research note on Monday, May 18th. Bank of America set a $16.30 target price on shares of VNET Group and gave the company a “buy” rating in a research note on Tuesday. Finally, Wall Street Zen raised shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.03.

Insider Activity

In other news, Director David Lifeng Chen sold 83,544 shares of the business’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 approximately $504,587.64. The trade was a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.10% of the company’s stock.

VNET Group Stock Up 4.0%

VNET stock opened at $9.92 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.68. VNET Group, Inc. – Unsponsored ADR has a 1 year low of $5.14 and a 1 year high of $14.48. The company has a fifty day simple moving average of $9.04 and a 200 day simple moving average of $9.71. The firm has a market cap of $2.68 billion, a PE ratio of -34.21 and a beta of 0.19.

VNET Group (NASDAQ:VNET) last released its earnings results 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 positive return on equity of 1.36% and a negative net margin of 2.48%.The firm had revenue of $384.07 million for the quarter, compared to analyst estimates of $368.64 million. Sell-side analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post 0.21 EPS for the current fiscal year.

About VNET Group

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.