Principal Financial Group Inc. Acquires New Stake in Vipshop Holdings Limited (NYSE:VIPS)

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 filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Sound Income Strategies LLC bought a new stake in shares of Vipshop during the 1st quarter valued at about $62,000. Jump Financial LLC bought a new stake in shares of Vipshop during the 4th quarter valued at about $161,000. Vontobel Holding Ltd. boosted its position in shares of Vipshop by 19.1% during the 1st quarter. Vontobel Holding Ltd. now owns 14,638 shares of the technology company's stock valued at $230,000 after purchasing an additional 2,352 shares in the last quarter. D Orazio & Associates Inc. boosted its position in shares of Vipshop by 22.5% during the 1st quarter. D Orazio & Associates Inc. now owns 15,335 shares of the technology company's stock valued at $240,000 after purchasing an additional 2,816 shares in the last quarter. Finally, Financial Counselors Inc. boosted its position in shares of Vipshop by 17.8% during the 4th quarter. Financial Counselors Inc. now owns 20,507 shares of the technology company's stock valued at $276,000 after purchasing an additional 3,095 shares in the last quarter. 48.82% of the stock is currently owned by institutional investors.

Vipshop Trading Up 1.1%

Shares of VIPS traded up $0.16 on Friday, reaching $15.17. 3,895,051 shares of the company's stock traded hands, compared to its average volume of 3,618,253. The stock has a market cap of $7.79 billion, a PE ratio of 7.94, a PEG ratio of 2.54 and a beta of 0.58. The stock's 50 day simple moving average is $14.67 and its two-hundred day simple moving average is $14.54. Vipshop Holdings Limited has a 52-week low of $11.50 and a 52-week high of $17.94.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on VIPS shares. 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. 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. 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, Wall Street Zen lowered Vipshop from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock 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.