Vipshop Holdings Limited $VIPS Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Vipshop Holdings Limited by 28.6% in the second quarter, now owning 4,136,235 shares valued at approximately $62.5 million.
• Vipshop's stock performance shows it has a 12-month low of $12.14 and a high of $21.08, with shares currently trading around $18.22.
• Analysts have a consensus rating of "Hold" for Vipshop, with price targets ranging from $17.00 to $19.00 after various adjustments by multiple firms.

Allspring Global Investments Holdings LLC reduced its stake in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 28.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,136,235 shares of the technology company's stock after selling 1,655,211 shares during the period. Allspring Global Investments Holdings LLC owned 0.81% of Vipshop worth $62,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Vipshop by 0.5% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 133,271 shares of the technology company's stock valued at $2,006,000 after acquiring an additional 657 shares in the last quarter. Baader Bank Aktiengesellschaft raised its holdings in shares of Vipshop by 5.0% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 15,755 shares of the technology company's stock valued at $245,000 after purchasing an additional 755 shares in the last quarter. Atlas Capital Advisors Inc. raised its holdings in shares of Vipshop by 41.5% during the 1st quarter. Atlas Capital Advisors Inc. now owns 3,567 shares of the technology company's stock valued at $56,000 after purchasing an additional 1,046 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Vipshop by 2.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 54,607 shares of the technology company's stock valued at $856,000 after buying an additional 1,165 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Vipshop by 209.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,551 shares of the technology company's stock valued at $38,000 after buying an additional 1,726 shares during the last quarter. 48.82% of the stock is owned by institutional investors and hedge funds.

Vipshop Stock Performance

Shares of Vipshop stock opened at $18.22 on Wednesday. The firm's 50-day simple moving average is $17.85 and its 200-day simple moving average is $15.65. Vipshop Holdings Limited has a twelve month low of $12.14 and a twelve month high of $21.08. The firm has a market cap of $9.34 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.71.

Analysts Set New Price Targets

VIPS has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of Vipshop from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Wall Street Zen lowered shares of Vipshop from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Zacks Research lowered shares of Vipshop from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. JPMorgan Chase & Co. decreased their price target on shares of Vipshop from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Finally, Bank of America decreased their price target on shares of Vipshop from $17.80 to $17.30 and set a "buy" rating on the stock in a research report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $18.33.

Vipshop Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.