Asset Management One Co. Ltd. Takes $152,000 Position in VNET Group, Inc. (NASDAQ:VNET)

Asset Management One Co. Ltd. acquired a new stake in shares of VNET Group, Inc. (NASDAQ:VNET) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 32,008 shares of the information technology services provider’s stock, valued at approximately $152,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Catalina Capital Group LLC purchased a new stake in shares of VNET Group during the 4th quarter valued at $54,000. Blue Trust Inc. lifted its holdings in shares of VNET Group by 29.1% during the 4th quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock valued at $257,000 after purchasing an additional 12,237 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of VNET Group by 534.6% during the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock valued at $1,931,000 after purchasing an additional 343,140 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of VNET Group by 136,783.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock valued at $558,000 after purchasing an additional 136,783 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of VNET Group during the 3rd quarter valued at $519,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Wall Street Analyst Weigh In

VNET has been the subject of several analyst reports. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $3.10 to $5.00 in a report on Friday, November 29th. UBS Group raised their target price on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $4.78.

VNET Group Stock Performance

Shares of VNET stock opened at $14.59 on Friday. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -6.57, a price-to-earnings-growth ratio of 0.90 and a beta of -0.18. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The business has a fifty day moving average of $6.95 and a 200 day moving average of $4.54. VNET Group, Inc. has a 1 year low of $1.42 and a 1 year high of $16.13.

VNET Group Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.