Skandinaviska Enskilda Banken AB publ Acquires 436,000 Shares of Vipshop Holdings Limited (NYSE:VIPS)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Vipshop Holdings by 621.8%, acquiring an additional 436,000 shares to reach a total of 506,114 shares, valued at approximately $7.9 million.
• Other institutional investors, including Norges Bank and Mirae Asset Global Investments, have also significantly increased their holdings, demonstrating growing institutional interest in Vipshop.
• Despite recent acquisitions, Vipshop’s stock is currently down 1.0%, with a consensus price target of $15.83 and multiple analysts shifting their ratings on the stock between "buy" and "hold."

Skandinaviska Enskilda Banken AB publ grew its holdings in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 621.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 506,114 shares of the technology company's stock after purchasing an additional 436,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.10% of Vipshop worth $7,936,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VIPS. Norges Bank bought a new position in shares of Vipshop in the 4th quarter valued at about $64,115,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Vipshop by 3,533.4% during the 1st 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 during the last quarter. Principal Financial Group Inc. bought a new position in Vipshop during the 1st quarter worth approximately $27,051,000. Invesco Ltd. boosted its stake in Vipshop by 28.4% during the 4th quarter. Invesco Ltd. now owns 7,759,150 shares of the technology company's stock worth $104,516,000 after acquiring an additional 1,718,159 shares during the last quarter. Finally, Packer & Co Ltd bought a new position in Vipshop during the 1st quarter worth approximately $24,292,000. Institutional investors own 48.82% of the company's stock.

Vipshop Stock Down 1.0%

NYSE VIPS opened at $15.98 on Friday. Vipshop Holdings Limited has a 12-month low of $11.50 and a 12-month high of $17.94. The company has a market capitalization of $8.19 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. The firm's 50 day moving average is $14.94 and its 200-day moving average is $14.73.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective 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 shares of Vipshop from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Barclays reduced their price objective on shares of Vipshop from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Citigroup lowered shares of Vipshop from a "buy" rating to a "neutral" rating and set a $18.00 price objective on the stock. in a research note on Tuesday, April 1st. Finally, Bank of America reduced their price objective on shares of Vipshop from $17.80 to $17.30 and set a "buy" rating on the stock in a research note 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, Vipshop has an average rating of "Hold" and a consensus price target of $15.83.

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.

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