Vipshop Holdings Limited (NYSE:VIPS) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank has reduced its stake in Vipshop Holdings by 25.3%, now holding 80,563 shares valued at approximately $1.26 million.
• Major investors like Krane Funds Advisors and Vanguard Group have increased their holdings, indicating a mixed sentiment among institutional investors in the company.
• Analysts have lowered their price targets for Vipshop stock, with an average rating of "Hold" and a consensus price target of $15.83.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 25.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,563 shares of the technology company's stock after selling 27,262 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Vipshop were worth $1,263,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 valued at $310,000 after acquiring an additional 1,965,244 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Vipshop during the 1st quarter worth approximately $427,000. Bank of New York Mellon Corp boosted its stake in shares of Vipshop by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 560,933 shares of the technology company's stock valued at $8,795,000 after purchasing an additional 22,204 shares during the period. Principal Financial Group Inc. purchased a new position in Vipshop in the first quarter valued at $27,051,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Vipshop during the fourth quarter worth approximately $1,990,000. 48.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VIPS has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Vipshop from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. 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. Barclays cut their target price on shares of Vipshop from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Finally, Bank of America reduced their price target on Vipshop from $17.80 to $17.30 and set a "buy" rating on the stock in a research note on Friday, July 18th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $15.83.

Vipshop Stock Performance

Shares of VIPS stock traded down $0.10 during trading hours on Wednesday, hitting $15.26. 1,313,059 shares of the company were exchanged, compared to its average volume of 2,514,686. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 7.99, a P/E/G ratio of 1.71 and a beta of 0.54. Vipshop Holdings Limited has a one year low of $11.50 and a one year high of $17.94. The business's 50-day simple moving average is $15.05 and its two-hundred day simple moving average is $14.84.

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.