Prudential PLC Lowers Holdings in Vipshop Holdings Limited (NYSE:VIPS)

Key Points

• Prudential PLC has reduced its stake in Vipshop Holdings Limited by 5.6% in Q1, holding 2,745,219 shares worth approximately $43 million.
• Several other hedge funds have also adjusted their positions, with institutional investors now owning 48.82% of Vipshop's stock.
• Analysts have lowered their price targets for Vipshop, with Barclays setting a new target of $19.00, while the stock's current average price target is $15.83 and rated as "Hold."

Prudential PLC cut its position in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,745,219 shares of the technology company's stock after selling 161,993 shares during the quarter. Prudential PLC owned 0.53% of Vipshop worth $43,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in shares of Vipshop during the 1st quarter worth approximately $35,000. Atlas Capital Advisors Inc. raised its stake in Vipshop by 41.5% during the 1st quarter. Atlas Capital Advisors Inc. now owns 3,567 shares of the technology company's stock worth $56,000 after acquiring an additional 1,046 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Vipshop in the first quarter valued at $62,000. AM Investment Strategies LLC acquired a new position in Vipshop in the first quarter valued at $157,000. Finally, Jump Financial LLC purchased a new position in shares of Vipshop during the fourth quarter worth about $161,000. Institutional investors and hedge funds own 48.82% of the company's stock.

Vipshop Stock Down 0.2%

VIPS opened at $15.32 on Tuesday. Vipshop Holdings Limited has a 52-week low of $11.50 and a 52-week high of $17.94. The company has a 50 day moving average of $15.15 and a two-hundred day moving average of $14.88. The company has a market cap of $7.85 billion, a P/E ratio of 8.02, a P/E/G ratio of 1.71 and a beta of 0.54.

Analysts Set New Price Targets

VIPS has been the topic of a number of recent research reports. 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. 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 note on Monday, June 30th. Wall Street Zen lowered Vipshop from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. Finally, Bank of America dropped their target price on Vipshop from $17.80 to $17.30 and set a "buy" rating on the stock in a research report on Friday, July 18th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.83.

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.

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