Alok Agrawal’s Bloom Tree Partners Portfolio: 5 Technology Stock Picks

2. VNET Group, Inc. (NASDAQ:VNET)

Bloom Tree Partners’ Stake Value: $48.47 million

Percentage of Bloom Tree Partners’ 13F Portfolio: 5.77%

Number of Hedge Fund Holders: 16

VNET Group, Inc. (NASDAQ:VNET) is a China-based carrier-neutral internet data service provider. The company was previously known as 21Vianet Group, Inc. and its clientele includes corporations, government bodies, and different levels of enterprises. The company has its operations in around 20 cities in the People’s Republic of China and has a customer base of nearly 5,000 people.

According to the database of Insider Monkey that tracks 867 hedge funds, 16 funds had stakes in VNET Group, Inc. (NASDAQ:VNET) worth $173.32 million in the third quarter, down from 23 funds having stakes worth $264.55 million in the previous quarter.

On November 22, HSBC analyst Helen Fang upgraded VNET Group, Inc. (NASDAQ:VNET) stock from Hold to Buy rating with a price target of $17.40.