National Bank of Canada FI Increases Stake in Vipshop Holdings Limited (NYSE:VIPS)

Key Points

• National Bank of Canada FI increased its stake in Vipshop Holdings by 12,654.0% during the first quarter, owning approximately 1,151,563 shares valued at $18.06 million.
• Several hedge funds have boosted their positions in Vipshop, with Krane Funds Advisors now holding 15,839,097 shares worth approximately $248.36 million.
• Analysts have downgraded Vipshop’s stock from "buy" to "hold," with an average price target of $15.83, as per MarketBeat data.

National Bank of Canada FI increased its position in shares of Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 12,654.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,151,563 shares of the technology company's stock after acquiring an additional 1,142,534 shares during the period. National Bank of Canada FI owned approximately 0.22% of Vipshop worth $18,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of VIPS. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 period. Principal Financial Group Inc. bought a new stake in Vipshop during the 1st quarter worth approximately $27,051,000. Invesco Ltd. increased its holdings 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 period. Packer & Co Ltd bought a new stake in Vipshop during the 1st quarter worth approximately $24,292,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Vipshop by 13.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 12,564,417 shares of the technology company's stock worth $197,010,000 after acquiring an additional 1,456,862 shares during the period. Institutional investors own 48.82% of the company's stock.

Analyst Upgrades and Downgrades

VIPS has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price target on shares of Vipshop from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Bank of America cut their price target on shares of Vipshop from $17.80 to $17.30 and set a "buy" rating for the company in a research note on Friday, July 18th. Wall Street Zen cut shares of Vipshop from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Finally, Barclays cut their price target on shares of Vipshop from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $15.83.

Vipshop Stock Up 4.1%

Shares of Vipshop stock traded up $0.64 during trading on Wednesday, reaching $16.34. The company's stock had a trading volume of 4,158,725 shares, compared to its average volume of 2,314,375. Vipshop Holdings Limited has a 52-week low of $11.50 and a 52-week high of $17.94. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 1.75 and a beta of 0.54. The firm's 50-day moving average is $15.22 and its two-hundred day moving average is $14.90.

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.