Millennium Management LLC Buys 346,374 Shares of Vipshop Holdings Limited $VIPS

Key Points

• Millennium Management LLC increased its holding in Vipshop Holdings by 33.3% in Q1, totaling 1,386,985 shares worth approximately $21.7 million.
• Several hedge funds significantly increased their stakes, with Mirae Asset Global Investments raising its holdings by an astounding 3,533.4% to 2,020,863 shares.
• Analysts have mixed opinions on Vipshop, with ratings ranging from "buy" to "hold," and a consensus target price of $18.33.

Millennium Management LLC boosted its position in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 33.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,386,985 shares of the technology company's stock after purchasing an additional 346,374 shares during the quarter. Millennium Management LLC owned approximately 0.27% of Vipshop worth $21,748,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC raised its holdings in Vipshop by 7.8% in the first quarter. Krane Funds Advisors LLC now owns 15,839,097 shares of the technology company's stock worth $248,357,000 after purchasing an additional 1,148,307 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Vipshop by 13.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 12,564,417 shares of the technology company's stock worth $197,010,000 after acquiring an additional 1,456,862 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Vipshop by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 8,330,548 shares of the technology company's stock worth $130,731,000 after acquiring an additional 267,398 shares during the last quarter. Invesco Ltd. grew its stake in shares of Vipshop by 5.3% in the first quarter. Invesco Ltd. now owns 8,170,252 shares of the technology company's stock worth $128,110,000 after acquiring an additional 411,102 shares during the last quarter. Finally, Orbis Allan Gray Ltd grew its stake in shares of Vipshop by 18.3% in the first quarter. Orbis Allan Gray Ltd now owns 7,009,180 shares of the technology company's stock worth $109,904,000 after acquiring an additional 1,084,345 shares during the last quarter. Institutional investors own 48.82% of the company's stock.

Vipshop Trading Up 1.0%

VIPS stock traded up $0.19 during trading on Tuesday, reaching $18.38. The stock had a trading volume of 2,069,606 shares, compared to its average volume of 3,403,902. Vipshop Holdings Limited has a 52 week low of $12.14 and a 52 week high of $18.53. The stock's 50 day moving average is $16.27 and its two-hundred day moving average is $15.25. The firm has a market cap of $9.42 billion, a PE ratio of 9.99, a PEG ratio of 2.04 and a beta of 0.70.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VIPS. Zacks Research cut Vipshop from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Barclays cut their target price on Vipshop from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. JPMorgan Chase & Co. dropped their price objective on Vipshop from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Citigroup increased their price objective on Vipshop from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Finally, Wall Street Zen raised Vipshop from a "hold" rating to a "buy" rating in a research report on Saturday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.33.

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.