Swedbank AB Trims Stock Position in Vipshop Holdings Limited $VIPS

Key Points

• Swedbank AB has significantly reduced its holdings in Vipshop Holdings Limited by 75.1%, now owning 188,703 shares after selling 570,524 shares in the first quarter.
• Multiple institutional investors have also altered their stakes in Vipshop, with Acadian Asset Management increasing its position by 17.4% and Mirae Asset Global Investments boosting its holdings by a staggering 3,533.4%.
• Wall Street analysts have mixed views on Vipshop, with Barclays and Bank of America lowering their price targets, while Wall Street Zen upgraded the stock to a "buy" rating; the overall consensus rating remains a "Moderate Buy."

Swedbank AB decreased its position in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 75.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,703 shares of the technology company's stock after selling 570,524 shares during the period. Swedbank AB's holdings in Vipshop were worth $2,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wayfinding Financial LLC acquired a new position in Vipshop during the first quarter worth about $35,000. Brooklyn Investment Group grew its holdings in shares of Vipshop by 1,695.2% during the first quarter. Brooklyn Investment Group now owns 2,621 shares of the technology company's stock worth $41,000 after buying an additional 2,475 shares in the last quarter. Atlas Capital Advisors Inc. grew its holdings in shares of Vipshop by 41.5% during the first quarter. Atlas Capital Advisors Inc. now owns 3,567 shares of the technology company's stock worth $56,000 after buying an additional 1,046 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Vipshop during the first quarter worth about $62,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Vipshop during the first quarter worth about $86,000. Institutional investors and hedge funds own 48.82% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on VIPS. JPMorgan Chase & Co. lowered their price target on shares of Vipshop from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Citigroup boosted their target price on shares of Vipshop from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, August 15th. Bank of America lowered their target price on shares of Vipshop from $17.80 to $17.30 and set a "buy" rating for the company in a report on Friday, July 18th. Wall Street Zen upgraded shares of Vipshop from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Finally, Zacks Research downgraded shares of Vipshop from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.33.

Vipshop Stock Down 2.1%

Shares of NYSE:VIPS traded down $0.40 on Friday, reaching $18.38. 7,991,551 shares of the company's stock were exchanged, compared to its average volume of 2,342,006. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 2.11 and a beta of 0.70. Vipshop Holdings Limited has a fifty-two week low of $12.14 and a fifty-two week high of $18.91. The business's 50-day moving average is $16.55 and its two-hundred day moving average is $15.34.

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.