Inspire Investing LLC Has $1.08 Million Stock Holdings in VNET Group, Inc. (NASDAQ:VNET)

Inspire Investing LLC trimmed its stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,546 shares of the information technology services provider's stock after selling 39,048 shares during the quarter. Inspire Investing LLC owned approximately 0.09% of VNET Group worth $1,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AXA S.A. bought a new position in VNET Group in the 2nd quarter worth about $65,000. Millennium Management LLC boosted its position in shares of VNET Group by 89.1% in the 2nd quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider's stock worth $6,229,000 after purchasing an additional 1,400,683 shares in the last quarter. SG Americas Securities LLC purchased a new stake in VNET Group during the 3rd quarter valued at about $262,000. Creative Planning lifted its holdings in shares of VNET Group by 124.1% during the third quarter. Creative Planning now owns 117,139 shares of the information technology services provider's stock valued at $478,000 after purchasing an additional 64,866 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in VNET Group by 785.4% in the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider's stock valued at $172,000 after acquiring an additional 37,322 shares during the period. Institutional investors own 72.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on VNET shares. Hsbc Global Res upgraded VNET Group to a "strong-buy" rating in a research report on Wednesday, October 9th. HSBC raised shares of VNET Group from a "hold" rating to a "buy" rating and set a $5.20 price objective on the stock in a research report on Wednesday, October 9th. The Goldman Sachs Group raised VNET Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $3.10 to $5.00 in a report on Friday, November 29th. Finally, 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 research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued 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 Price Performance

Shares of NASDAQ VNET traded up $0.14 during midday trading on Friday, hitting $6.99. The company had a trading volume of 4,944,721 shares, compared to its average volume of 4,629,602. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -3.15, a price-to-earnings-growth ratio of 0.55 and a beta of -0.24. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The business has a 50-day simple moving average of $4.50 and a two-hundred day simple moving average of $3.43. VNET Group, Inc. has a twelve month low of $1.39 and a twelve month high of $7.19.

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.