1,725,203 Shares in Vipshop Holdings Limited (NYSE:VIPS) Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in shares of Vipshop Holdings Limited (NYSE:VIPS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,725,203 shares of the technology company's stock, valued at approximately $27,051,000. Principal Financial Group Inc. owned 0.34% of Vipshop at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VIPS. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Vipshop by 3,533.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,020,863 shares of the technology company's stock valued at $310,000 after buying an additional 1,965,244 shares during the period. Lighthouse Investment Partners LLC purchased a new position in shares of Vipshop in the 4th quarter valued at about $1,990,000. Packer & Co Ltd purchased a new position in shares of Vipshop in the 1st quarter valued at about $24,292,000. Vanguard Group Inc. boosted its stake in shares of Vipshop by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 13,961,402 shares of the technology company's stock valued at $188,060,000 after buying an additional 79,254 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Vipshop by 53.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,597,664 shares of the technology company's stock valued at $34,991,000 after buying an additional 908,669 shares during the period. 48.82% of the stock is currently owned by hedge funds and other institutional investors.

Vipshop Stock Up 0.5%

Shares of NYSE VIPS traded up $0.08 on Wednesday, hitting $15.04. The company had a trading volume of 3,307,740 shares, compared to its average volume of 3,732,237. Vipshop Holdings Limited has a 12-month low of $11.50 and a 12-month high of $17.94. The business has a 50 day moving average of $14.62 and a two-hundred day moving average of $14.53. The firm has a market capitalization of $7.72 billion, a P/E ratio of 7.87, a PEG ratio of 2.52 and a beta of 0.58.

Analyst Upgrades and Downgrades

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

About Vipshop

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.