Myriad Asset Management US LP Buys Shares of 121,398 Vipshop Holdings Limited (NYSE:VIPS)

Myriad Asset Management US LP purchased a new stake in Vipshop Holdings Limited (NYSE:VIPS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 121,398 shares of the technology company's stock, valued at approximately $1,904,000. Vipshop makes up 0.8% of Myriad Asset Management US LP's holdings, making the stock its 21st biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of Vipshop by 17.5% during the 4th quarter. Blue Trust Inc. now owns 9,972 shares of the technology company's stock worth $134,000 after purchasing an additional 1,487 shares during the period. abrdn plc boosted its holdings in Vipshop by 4.4% during the fourth quarter. abrdn plc now owns 723,339 shares of the technology company's stock worth $9,610,000 after buying an additional 30,403 shares in the last quarter. Caas Capital Management LP acquired a new position in Vipshop during the fourth quarter worth about $1,327,000. Ping Capital Management Inc. purchased a new position in Vipshop in the 4th quarter valued at approximately $539,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Vipshop during the fourth quarter worth $175,000. Institutional investors and hedge funds own 48.82% of the company's stock.

Vipshop Stock Performance

Shares of NYSE VIPS traded up $0.09 during trading on Thursday, reaching $14.47. The stock had a trading volume of 3,009,392 shares, compared to its average volume of 3,795,793. The stock has a market cap of $7.43 billion, a PE ratio of 6.92, a P/E/G ratio of 1.52 and a beta of 0.60. Vipshop Holdings Limited has a one year low of $11.50 and a one year high of $17.94. The firm's 50 day moving average price is $13.87 and its two-hundred day moving average price is $14.30.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen downgraded Vipshop from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Citigroup lowered shares of Vipshop from a "buy" rating to a "neutral" rating and set a $18.00 target price on the stock. in a report on Tuesday, April 1st. Finally, Barclays reduced their target price on Vipshop from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $15.10.

Vipshop Company 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.