Laird Norton Wetherby Wealth Management LLC Lowers Holdings in GDS Holdings Limited (NASDAQ:GDS)

Laird Norton Wetherby Wealth Management LLC decreased its stake in GDS Holdings Limited (NASDAQ:GDS) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,761 shares of the company’s stock after selling 4,723 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in GDS were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GDS. Blue Trust Inc. boosted its stake in shares of GDS by 121.9% in the fourth quarter. Blue Trust Inc. now owns 5,557 shares of the company’s stock worth $132,000 after buying an additional 3,053 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of GDS by 26.5% in the fourth quarter. Pacer Advisors Inc. now owns 898,982 shares of the company’s stock worth $21,360,000 after buying an additional 188,072 shares during the last quarter. abrdn plc boosted its stake in shares of GDS by 5.4% in the fourth quarter. abrdn plc now owns 279,800 shares of the company’s stock worth $6,648,000 after buying an additional 14,300 shares during the last quarter. Macroview Investment Management LLC boosted its stake in shares of GDS by 37.4% in the fourth quarter. Macroview Investment Management LLC now owns 18,550 shares of the company’s stock worth $441,000 after buying an additional 5,050 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of GDS in the fourth quarter worth about $1,938,000. Hedge funds and other institutional investors own 33.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Daiwa Capital Markets upgraded GDS from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 11th. JMP Securities set a $40.00 price target on GDS in a report on Thursday, March 20th. Citizens Jmp raised GDS to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada cut GDS from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $26.00 to $37.00 in a report on Tuesday, February 25th. Finally, Citigroup reaffirmed an “outperform” rating on shares of GDS in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GDS presently has a consensus rating of “Buy” and an average target price of $39.48.

GDS Stock Performance

NASDAQ GDS opened at $26.44 on Friday. The company has a market cap of $5.04 billion, a PE ratio of -8.67 and a beta of 0.28. The stock’s 50 day simple moving average is $25.62 and its 200-day simple moving average is $25.60. GDS Holdings Limited has a 1-year low of $7.35 and a 1-year high of $52.50. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.19 and a quick ratio of 1.19.

GDS (NASDAQ:GDS) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.17. GDS had a negative return on equity of 8.22% and a negative net margin of 35.97%. The firm had revenue of $425.13 million during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the firm earned ($2.16) earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that GDS Holdings Limited will post -0.89 EPS for the current fiscal year.

About GDS

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services.