5 Tech Stocks to Buy According to Billionaire James Dinan

3. 21Vianet Group, Inc. (NASDAQ:VNET)

York Capital Management’s Stake Value: $28,806,000
Percent of York Capital Management’s 13F Portfolio: 3.23%
Number of Hedge Fund Holders: 23

21Vianet Group, Inc. (NASDAQ:VNET) is a carrier-neutral internet data center provider in China which provides services in hosting, managed network services, and cloud computing infrastructure. The company ranks third on our list of the best tech stocks to buy according to billionaire James Dinan. 

As of Q2 2021, York Capital Management holds over 1.25 million shares in 21Vianet Group, Inc. (NASDAQ:VNET), worth $28.8 million. The company represents 3.23% of the hedge fund’s 13F portfolio as the fund increased its position in the company by 33% in Q2. In the second quarter of 2021, 21Vianet Group, Inc. (NASDAQ:VNET) reported revenue of $231.9 million, showcasing a 43.2% growth from the prior-year quarter. In August, JPMorgan initiated its coverage on 21Vianet Group, Inc. (NASDAQ:VNET) with an ‘Overweight’ rating and a $27 price target. The firm’s analyst appreciated the company’s positive transition in the past few quarters. 

As of Q2 2021, 23 hedge funds tracked by Insider Monkey have positions in 21Vianet Group, Inc. (NASDAQ:VNET), valued at $264.5 million. The number of hedge funds having stakes in the company stood at 30 in the previous quarter.