Orbis Allan Gray Ltd increased its holdings in shares of Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 18.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,009,180 shares of the technology company's stock after purchasing an additional 1,084,345 shares during the quarter. Orbis Allan Gray Ltd owned approximately 1.37% of Vipshop worth $109,904,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Vipshop by 3,533.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,020,863 shares of the technology company's stock worth $310,000 after acquiring an additional 1,965,244 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Vipshop during the first quarter worth $427,000. Bank of New York Mellon Corp raised its position in Vipshop by 4.1% during the first quarter. Bank of New York Mellon Corp now owns 560,933 shares of the technology company's stock worth $8,795,000 after acquiring an additional 22,204 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Vipshop during the first quarter worth $27,051,000. Finally, Harvest Fund Management Co. Ltd raised its position in Vipshop by 66.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 216,491 shares of the technology company's stock worth $3,103,000 after acquiring an additional 86,548 shares in the last quarter. 48.82% of the stock is owned by institutional investors.
Vipshop Stock Performance
Shares of VIPS stock traded down $0.06 on Thursday, hitting $16.90. The company's stock had a trading volume of 728,932 shares, compared to its average volume of 3,429,681. The stock's 50 day moving average is $15.84 and its 200-day moving average is $15.11. Vipshop Holdings Limited has a fifty-two week low of $12.14 and a fifty-two week high of $17.94. The company has a market capitalization of $8.66 billion, a PE ratio of 9.18, a PEG ratio of 1.88 and a beta of 0.70.
Analyst Ratings Changes
VIPS has been the topic of several analyst reports. Barclays dropped their price target on shares of Vipshop from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. JPMorgan Chase & Co. dropped 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. Zacks Research lowered shares of Vipshop from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Wall Street Zen lowered shares of Vipshop from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, Bank of America dropped their price objective 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. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.33.
Check Out Our Latest Report on VIPS
About Vipshop
(
Free Report)
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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