Allianz Asset Management GmbH Sells 346,004 Shares of Vipshop Holdings Limited $VIPS

Key Points

• Allianz Asset Management GmbH has sold 346,004 shares of Vipshop Holdings Limited, reducing its holdings by 11.8% to approximately 2.57 million shares.
• Recent analyst ratings have varied, with JPMorgan Chase lowering its target from $20 to $18, while Citigroup increased its target from $17 to $19, indicating mixed sentiment for the stock.
• Vipshop shares have seen a price range from a 52-week low of $12.14 to a high of $21.08, with the current market cap standing at $9.61 billion.

Allianz Asset Management GmbH lessened its holdings in shares of Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 11.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,575,141 shares of the technology company's stock after selling 346,004 shares during the period. Allianz Asset Management GmbH owned 0.50% of Vipshop worth $38,756,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Vipshop by 0.5% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 133,271 shares of the technology company's stock worth $2,006,000 after purchasing an additional 657 shares during the last quarter. Baader Bank Aktiengesellschaft raised its position in shares of Vipshop by 5.0% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 15,755 shares of the technology company's stock worth $245,000 after purchasing an additional 755 shares during the last quarter. Atlas Capital Advisors Inc. raised its position in shares of Vipshop by 41.5% in the 1st quarter. Atlas Capital Advisors Inc. now owns 3,567 shares of the technology company's stock worth $56,000 after purchasing an additional 1,046 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Vipshop by 2.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 54,607 shares of the technology company's stock worth $856,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Vipshop by 209.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,551 shares of the technology company's stock worth $38,000 after purchasing an additional 1,726 shares during the last quarter. Institutional investors own 48.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VIPS shares. JPMorgan Chase & Co. lowered their price target on Vipshop from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Zacks Research lowered Vipshop from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Vipshop in a research report on Wednesday, October 8th. Wall Street Zen raised Vipshop from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Citigroup boosted their target price on Vipshop from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $18.33.

Vipshop Stock Performance

Shares of NYSE:VIPS opened at $18.75 on Friday. Vipshop Holdings Limited has a fifty-two week low of $12.14 and a fifty-two week high of $21.08. The business has a 50-day simple moving average of $18.06 and a two-hundred day simple moving average of $15.72. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

About Vipshop

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.

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