Mirae Asset Global Investments Co. Ltd. Has $842,000 Stock Position in Vipshop Holdings Limited $VIPS

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly decreased its stake in Vipshop Holdings Limited by 97.2%, selling nearly 2 million shares, leaving it with 55,965 shares valued at $842,000.
• Several hedge funds have altered their positions in Vipshop, with notable increases from Farther Finance Advisors LLC by 209.2% and Atlas Capital Advisors Inc. by 41.5% in the first quarter.
• Analysts have mixed views on Vipshop's stock, with price targets ranging from $17.00 to $19.00, and a current consensus rating of "Hold" based on varying outlooks from institutions like Citigroup and JPMorgan Chase.

Mirae Asset Global Investments Co. Ltd. decreased its stake in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 97.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,965 shares of the technology company's stock after selling 1,964,898 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Vipshop were worth $842,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft raised its position in Vipshop by 5.0% in the first quarter. Baader Bank Aktiengesellschaft now owns 15,755 shares of the technology company's stock worth $245,000 after acquiring an additional 755 shares during the period. Atlas Capital Advisors Inc. raised its position in Vipshop by 41.5% in the first quarter. Atlas Capital Advisors Inc. now owns 3,567 shares of the technology company's stock worth $56,000 after acquiring an additional 1,046 shares during the period. Asset Management One Co. Ltd. raised its position in Vipshop by 2.2% in the first quarter. Asset Management One Co. Ltd. now owns 54,607 shares of the technology company's stock worth $856,000 after acquiring an additional 1,165 shares during the period. Farther Finance Advisors LLC raised its position in Vipshop by 209.2% in the second quarter. Farther Finance Advisors LLC now owns 2,551 shares of the technology company's stock worth $38,000 after acquiring an additional 1,726 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Vipshop by 5.1% in the first quarter. Envestnet Asset Management Inc. now owns 43,510 shares of the technology company's stock worth $682,000 after acquiring an additional 2,126 shares during the period. Institutional investors own 48.82% of the company's stock.

Vipshop Price Performance

VIPS stock opened at $20.05 on Friday. Vipshop Holdings Limited has a one year low of $12.14 and a one year high of $21.08. The stock has a market cap of $10.28 billion, a PE ratio of 10.90, a P/E/G ratio of 2.28 and a beta of 0.71. The firm has a 50 day simple moving average of $17.64 and a two-hundred day simple moving average of $15.60.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VIPS. Citigroup boosted their price target on shares of Vipshop from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Zacks Research lowered shares of Vipshop from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. JPMorgan Chase & Co. lowered their price target on shares of Vipshop from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Bank of America lowered their price target on shares of Vipshop from $17.80 to $17.30 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Wall Street Zen lowered shares of Vipshop from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.