Principal Financial Group Inc. Buys New Shares in Vipshop Holdings Limited (NYSE:VIPS)

Principal Financial Group Inc. bought a new position in shares of Vipshop Holdings Limited (NYSE:VIPS - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,725,203 shares of the technology company's stock, valued at approximately $27,051,000. Principal Financial Group Inc. owned approximately 0.34% of Vipshop at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VIPS. Sound Income Strategies LLC bought a new position in Vipshop during the first quarter worth about $62,000. Jump Financial LLC bought a new position in Vipshop during the fourth quarter worth about $161,000. Vontobel Holding Ltd. lifted its holdings in Vipshop by 19.1% during the first quarter. Vontobel Holding Ltd. now owns 14,638 shares of the technology company's stock worth $230,000 after acquiring an additional 2,352 shares in the last quarter. D Orazio & Associates Inc. lifted its holdings in Vipshop by 22.5% during the first quarter. D Orazio & Associates Inc. now owns 15,335 shares of the technology company's stock worth $240,000 after acquiring an additional 2,816 shares in the last quarter. Finally, Financial Counselors Inc. lifted its holdings in Vipshop by 17.8% during the fourth quarter. Financial Counselors Inc. now owns 20,507 shares of the technology company's stock worth $276,000 after acquiring an additional 3,095 shares in the last quarter. 48.82% of the stock is currently owned by institutional investors.

Vipshop Stock Down 0.4%

Shares of NYSE:VIPS traded down $0.07 during midday trading on Thursday, reaching $15.01. The company had a trading volume of 180,425 shares, compared to its average volume of 3,607,371. The business's 50 day moving average price is $14.64 and its 200 day moving average price is $14.53. The stock has a market cap of $7.70 billion, a PE ratio of 7.86, a P/E/G ratio of 2.52 and a beta of 0.58. Vipshop Holdings Limited has a 1-year low of $11.50 and a 1-year high of $17.94.

Analyst Ratings Changes

Several research analysts have weighed in on VIPS shares. Wall Street Zen lowered Vipshop from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. Citigroup lowered Vipshop from a "buy" rating to a "neutral" rating and set a $18.00 price target on the stock. in a report on Tuesday, April 1st. JPMorgan Chase & Co. cut their price target on Vipshop from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Finally, Barclays cut their price target on Vipshop from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Vipshop has an average rating of "Hold" and a consensus target price of $15.58.

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.