Vipshop Holdings Limited (NYSE:VIPS) Stake Cut by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. reduced its stake in Vipshop Holdings Limited by 19.6%, adjusting its holdings to approximately $23.50 million after selling 365,400 shares in the first quarter.
• Other institutional investors, including Krane Funds Advisors and Robeco Institutional Asset Management, increased their positions in Vipshop by 7.8% and 13.1%, respectively, showcasing interest in the stock.
• As of now, Vipshop has a market cap of $8.05 billion and a current stock price of $15.71, with several analysts downgrading their price targets amid mixed ratings.

E Fund Management Co. Ltd. trimmed its holdings in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 19.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,498,497 shares of the technology company's stock after selling 365,400 shares during the quarter. Vipshop comprises 1.1% of E Fund Management Co. Ltd.'s portfolio, making the stock its 18th largest holding. E Fund Management Co. Ltd. owned about 0.29% of Vipshop worth $23,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VIPS. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 worth $310,000 after buying an additional 1,965,244 shares in the last quarter. Principal Financial Group Inc. bought a new position in Vipshop during the 1st quarter valued at $27,051,000. Packer & Co Ltd bought a new position in Vipshop during the 1st quarter valued at $24,292,000. Robeco Institutional Asset Management B.V. boosted its stake in Vipshop by 13.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 12,564,417 shares of the technology company's stock valued at $197,010,000 after purchasing an additional 1,456,862 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Vipshop by 91.2% during the 4th quarter. Northern Trust Corp now owns 2,591,643 shares of the technology company's stock valued at $34,909,000 after purchasing an additional 1,236,106 shares in the last quarter. 48.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Vipshop Price Performance

Shares of NYSE:VIPS traded up $0.96 on Thursday, reaching $17.32. 5,496,123 shares of the company traded hands, compared to its average volume of 2,405,003. Vipshop Holdings Limited has a fifty-two week low of $11.50 and a fifty-two week high of $17.94. The company's 50 day moving average is $15.28 and its 200-day moving average is $14.91. The stock has a market capitalization of $8.88 billion, a PE ratio of 9.07, a P/E/G ratio of 1.83 and a beta of 0.54.

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.