Mirae Asset Global Investments Co. Ltd. Has $4.38 Million Stock Holdings in VNET Group, Inc. (NASDAQ:VNET)

Mirae Asset Global Investments Co. Ltd. boosted its stake in VNET Group, Inc. (NASDAQ:VNET) by 14.1% in the fourth quarter, HoldingsChannel reports. The firm owned 1,525,707 shares of the information technology services provider’s stock after buying an additional 188,593 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in VNET Group were worth $4,379,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in VNET Group by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,704,264 shares of the information technology services provider’s stock worth $14,724,000 after purchasing an additional 43,347 shares during the period. BlackRock Inc. grew its holdings in shares of VNET Group by 6.4% during the second quarter. BlackRock Inc. now owns 2,295,628 shares of the information technology services provider’s stock valued at $6,657,000 after buying an additional 138,075 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of VNET Group by 7.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,856,388 shares of the information technology services provider’s stock valued at $10,206,000 after buying an additional 127,469 shares during the last quarter. FMR LLC grew its holdings in shares of VNET Group by 14,776,930.0% during the second quarter. FMR LLC now owns 1,477,703 shares of the information technology services provider’s stock valued at $8,925,000 after buying an additional 1,477,693 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of VNET Group by 1,424.1% during the first quarter. Hsbc Holdings PLC now owns 986,362 shares of the information technology services provider’s stock valued at $5,751,000 after buying an additional 921,643 shares during the last quarter. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VNET. Bank of America upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $3.90 to $2.70 in a report on Tuesday, March 19th. StockNews.com cut shares of VNET Group from a “hold” rating to a “sell” rating in a report on Friday, April 5th.

VNET Group Stock Performance

Shares of VNET stock opened at $1.58 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 1.23. VNET Group, Inc. has a 52 week low of $1.39 and a 52 week high of $3.88. The firm’s 50-day simple moving average is $1.67 and its two-hundred day simple moving average is $2.38.

About VNET Group

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.