Benjamin Edwards Inc. Purchases Shares of 29,452 Vipshop Holdings Limited (NYSE:VIPS)

Key Points

• Benjamin Edwards Inc. purchased 29,452 shares of Vipshop Holdings Limited (NYSE:VIPS) valued at approximately $462,000 during the 1st quarter, indicating growing institutional interest in the company.
• Several other hedge funds have also significantly increased their stakes, with Mirae Asset Global Investments boosting theirs by 3,533.4% and Principal Financial Group Inc. acquiring a new stake worth $27,051,000.
• Wall Street analysts have lowered price targets for Vipshop, with JPMorgan reducing it from $20 to $18, while the consensus rating for the stock remains at "Hold" with a target price of $15.83.

Benjamin Edwards Inc. purchased a new stake in Vipshop Holdings Limited (NYSE:VIPS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 29,452 shares of the technology company's stock, valued at approximately $462,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Vipshop by 3,533.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,020,863 shares of the technology company's stock valued at $310,000 after buying an additional 1,965,244 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Vipshop in the 1st quarter valued at $427,000. Bank of New York Mellon Corp increased its stake in Vipshop by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 560,933 shares of the technology company's stock valued at $8,795,000 after buying an additional 22,204 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Vipshop in the 1st quarter valued at $27,051,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in Vipshop by 66.6% in the first quarter. Harvest Fund Management Co. Ltd now owns 216,491 shares of the technology company's stock valued at $3,103,000 after acquiring an additional 86,548 shares during the last quarter. 48.82% of the stock is currently owned by institutional investors and hedge funds.

Vipshop Stock Performance

VIPS opened at $17.32 on Friday. Vipshop Holdings Limited has a fifty-two week low of $11.50 and a fifty-two week high of $17.94. The company has a market capitalization of $8.88 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.83 and a beta of 0.54. The stock has a fifty day moving average of $15.28 and a 200-day moving average of $14.91.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VIPS. JPMorgan Chase & Co. cut their price target on shares of Vipshop from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Bank of America cut their price target on shares of Vipshop from $17.80 to $17.30 and set a "buy" rating for the company in a research note on Friday, July 18th. Barclays cut their price target on shares of Vipshop from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Wall Street Zen cut shares of Vipshop from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.83.

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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