Insider Selling: VNET Group (NASDAQ:VNET) SVP Sells $15,331.68 in Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) SVP Zhihua Zhang sold 9,072 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1.69, for a total value of $15,331.68. Following the completion of the transaction, the senior vice president owned 33,924 shares of the company’s stock, valued at $57,331.56. The trade was a 21.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

VNET Group Trading Down 2.7%

VNET stock opened at $9.93 on Friday. 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 debt-to-equity ratio of 2.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -34.24 and a beta of 0.19. The business has a 50 day simple moving average of $9.10 and a two-hundred day simple moving average of $9.72.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Monday, March 16th. The information technology services provider reported $0.00 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $384.07 million during the quarter, compared to the consensus estimate of $368.64 million. Research analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post 0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Leonteq Securities AG purchased a new stake in VNET Group during the 1st quarter valued at $25,000. Global Retirement Partners LLC purchased a new stake in VNET Group during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC raised its holdings 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 valued at $29,000 after buying an additional 1,426 shares during the period. Parallel Advisors LLC raised its holdings in VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 1,160 shares during the period. Finally, Allianz SE purchased a new stake in VNET Group during the 4th quarter valued at $50,000. 72.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America restated a “buy” rating on shares of VNET Group in a research note on Monday, March 16th. Wall Street Zen upgraded VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Zacks Research downgraded VNET Group from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $23.55 target price on shares of VNET Group in a research report on Monday, March 16th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, VNET Group presently has a consensus rating of “Hold” and a consensus target price of $18.08.

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.