VNET Group, Inc. (NASDAQ:VNET) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC lowered its holdings in shares of VNET Group, Inc. (NASDAQ:VNET) by 34.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,045 shares of the information technology services provider’s stock after selling 5,269 shares during the period. Ballentine Partners LLC’s holdings in VNET Group were worth $48,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wolverine Trading LLC purchased a new position in VNET Group during the third quarter worth about $46,000. AXA S.A. bought a new stake in shares of VNET Group in the 2nd quarter worth about $65,000. Walleye Capital LLC bought a new stake in shares of VNET Group in the 3rd quarter valued at approximately $115,000. Blue Trust Inc. raised its stake in VNET Group by 785.4% during the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock worth $172,000 after acquiring an additional 37,322 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in VNET Group during the 3rd quarter valued at approximately $191,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VNET. HSBC raised shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a report on Wednesday, October 9th. UBS Group lifted their target price on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Hsbc Global Res raised VNET Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $3.10 to $5.00 in a report on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, VNET Group currently has an average rating of “Buy” and a consensus price target of $4.78.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $6.99 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The business’s 50 day moving average is $4.57 and its 200-day moving average is $3.48. VNET Group, Inc. has a 1-year low of $1.39 and a 1-year high of $7.19. The firm has a market capitalization of $1.80 billion, a PE ratio of -3.15, a PEG ratio of 0.55 and a beta of -0.24.

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.