Zurcher Kantonalbank Zurich Cantonalbank Has $1.26 Million Stock Position in Vipshop Holdings Limited (NYSE:VIPS)

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 lessened its holdings in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 25.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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.

Several other hedge funds also recently modified their holdings of VIPS. LPL Financial LLC boosted its stake in shares of Vipshop by 114.9% in the 4th quarter. LPL Financial LLC now owns 24,164 shares of the technology company's stock valued at $325,000 after purchasing an additional 12,919 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Vipshop by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 13,961,402 shares of the technology company's stock valued at $188,060,000 after purchasing an additional 79,254 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Vipshop by 53.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,597,664 shares of the technology company's stock valued at $34,991,000 after purchasing an additional 908,669 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Vipshop by 378.0% in the 4th quarter. Wellington Management Group LLP now owns 465,352 shares of the technology company's stock valued at $6,268,000 after purchasing an additional 367,999 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Vipshop by 9.7% in the 4th quarter. Geode Capital Management LLC now owns 3,571,808 shares of the technology company's stock valued at $47,929,000 after purchasing an additional 315,064 shares during the last quarter. Institutional investors own 48.82% of the company's stock.

Vipshop Stock Up 1.0%

Vipshop stock traded up $0.16 during midday trading on Friday, hitting $15.28. 1,507,963 shares of the stock were exchanged, compared to its average volume of 3,536,016. The stock has a market capitalization of $7.83 billion, a PE ratio of 7.98, a P/E/G ratio of 1.70 and a beta of 0.54. The company has a fifty day simple moving average of $15.10 and a two-hundred day simple moving average of $14.85. Vipshop Holdings Limited has a 52 week low of $11.50 and a 52 week high of $17.94.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price 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 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. 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. Finally, Wall Street Zen lowered shares of Vipshop from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Vipshop presently has a consensus rating of "Hold" and an average price target of $15.83.

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.