Allspring Global Investments Holdings LLC Lowers Stock Position in Vipshop Holdings Limited (NYSE:VIPS)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,791,446 shares of the technology company's stock after selling 662,961 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.13% of Vipshop worth $88,899,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Vipshop during the fourth quarter worth $64,115,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Vipshop by 3,533.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,020,863 shares of the technology company's stock worth $310,000 after purchasing an additional 1,965,244 shares during the period. Invesco Ltd. boosted its stake in shares of Vipshop by 28.4% during the 4th quarter. Invesco Ltd. now owns 7,759,150 shares of the technology company's stock worth $104,516,000 after purchasing an additional 1,718,159 shares during the period. Packer & Co Ltd bought a new position in Vipshop during the 1st quarter valued at about $24,292,000. Finally, Robeco Institutional Asset Management B.V. raised its position in Vipshop by 13.1% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 12,564,417 shares of the technology company's stock worth $197,010,000 after purchasing an additional 1,456,862 shares during the period. Institutional investors own 48.82% of the company's stock.

Analysts Set New Price Targets

VIPS has been the topic of several recent analyst reports. Citigroup downgraded Vipshop from a "buy" rating to a "neutral" rating and set a $18.00 price target on the stock. in a report on Tuesday, April 1st. Wall Street Zen downgraded Vipshop from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, Barclays cut their price target on shares of Vipshop from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.10.

Vipshop Stock Performance

NYSE VIPS traded down $0.21 on Monday, reaching $14.92. 544,226 shares of the stock traded hands, compared to its average volume of 3,644,735. Vipshop Holdings Limited has a 12 month low of $11.50 and a 12 month high of $17.94. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 2.58 and a beta of 0.57. The company has a fifty day moving average price of $14.35 and a 200-day moving average price of $14.46.

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.