VNET Group, Inc. (NASDAQ:VNET) Shares Sold by Axa S.A.

Axa S.A. lowered its position in shares of VNET Group, Inc. (NASDAQ:VNET) by 56.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,392 shares of the information technology services provider’s stock after selling 17,471 shares during the period. Axa S.A.’s holdings in VNET Group were worth $63,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC boosted its stake in VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after buying an additional 4,939 shares during the period. Catalina Capital Group LLC purchased a new position in shares of VNET Group during the 4th quarter worth approximately $54,000. Hsbc Holdings PLC acquired a new stake in VNET Group in the 4th quarter valued at approximately $66,000. Tower Research Capital LLC TRC purchased a new stake in VNET Group in the fourth quarter valued at approximately $80,000. Finally, Wedbush Securities Inc. acquired a new position in VNET Group during the fourth quarter worth $127,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Price Performance

VNET stock opened at $5.96 on Friday. VNET Group, Inc. has a 1 year low of $1.71 and a 1 year high of $16.13. The firm has a market capitalization of $1.53 billion, a P/E ratio of -2.68, a P/E/G ratio of 1.01 and a beta of 0.14. 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’s 50-day moving average is $7.58 and its two-hundred day moving average is $6.59.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The firm had revenue of $307.75 million during the quarter, compared to analysts’ expectations of $284.88 million. Analysts anticipate that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VNET. Citigroup lifted their price objective on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 14th. StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 6th. Finally, Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $9.30.

VNET Group Company 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.