Allianz Asset Management GmbH Sells 427,255 Shares of Vipshop Holdings Limited (NYSE:VIPS)

Allianz Asset Management GmbH lessened its position in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 12.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,921,145 shares of the technology company's stock after selling 427,255 shares during the period. Allianz Asset Management GmbH owned about 0.57% of Vipshop worth $45,804,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Wayfinding Financial LLC bought a new position in Vipshop during the 1st quarter valued at about $35,000. Sound Income Strategies LLC bought a new position in shares of Vipshop in the first quarter valued at approximately $62,000. Jump Financial LLC acquired a new position in shares of Vipshop in the 4th quarter worth approximately $161,000. Ballentine Partners LLC acquired a new position in shares of Vipshop in the 1st quarter worth approximately $163,000. Finally, Vontobel Holding Ltd. grew its position in Vipshop by 19.1% during the 1st quarter. Vontobel Holding Ltd. now owns 14,638 shares of the technology company's stock worth $230,000 after acquiring an additional 2,352 shares during the last quarter. Institutional investors own 48.82% of the company's stock.

Analyst Upgrades and Downgrades

VIPS has been the subject of several research analyst reports. Bank of America cut their price objective on Vipshop from $17.80 to $17.30 and set a "buy" rating for the company in a research report on Friday, July 18th. Citigroup lowered Vipshop from a "buy" rating to a "neutral" rating and set a $18.00 target price for the company. in a research note on Tuesday, April 1st. Barclays reduced their price target on shares of Vipshop from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Vipshop from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Finally, Wall Street Zen downgraded shares of Vipshop from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $15.83.

Vipshop Trading Down 1.0%

Vipshop stock traded down $0.16 during mid-day trading on Friday, hitting $15.98. The stock had a trading volume of 1,181,362 shares, compared to its average volume of 2,530,422. The stock has a 50-day simple moving average of $14.94 and a two-hundred day simple moving average of $14.73. The stock has a market capitalization of $8.19 billion, a PE ratio of 8.36, a P/E/G ratio of 1.78 and a beta of 0.58. Vipshop Holdings Limited has a 12 month low of $11.50 and a 12 month high of $17.94.

Vipshop Profile

Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.