Victory Capital Management Inc. Lowers Stock Holdings in Vipshop Holdings Limited (NYSE:VIPS)

Victory Capital Management Inc. reduced its holdings in Vipshop Holdings Limited (NYSE:VIPS) by 21.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 73,126 shares of the technology company’s stock after selling 20,446 shares during the quarter. Victory Capital Management Inc.’s holdings in Vipshop were worth $1,150,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. First Beijing Investment Ltd purchased a new stake in Vipshop during the third quarter valued at about $120,182,000. Krane Funds Advisors LLC lifted its stake in shares of Vipshop by 20.3% in the 2nd quarter. Krane Funds Advisors LLC now owns 15,737,381 shares of the technology company’s stock valued at $204,901,000 after purchasing an additional 2,659,117 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Vipshop by 155.0% during the 2nd quarter. Hsbc Holdings PLC now owns 3,483,943 shares of the technology company’s stock worth $45,347,000 after purchasing an additional 2,117,902 shares during the period. Swedbank AB acquired a new stake in Vipshop during the 1st quarter worth approximately $19,185,000. Finally, Canada Pension Plan Investment Board raised its holdings in Vipshop by 30.0% in the second quarter. Canada Pension Plan Investment Board now owns 3,379,114 shares of the technology company’s stock valued at $43,996,000 after buying an additional 780,443 shares during the period. 48.82% of the stock is owned by institutional investors and hedge funds.

Vipshop Price Performance

Shares of Vipshop stock opened at $13.14 on Wednesday. Vipshop Holdings Limited has a 1-year low of $11.50 and a 1-year high of $20.19. The business has a 50-day moving average of $14.68 and a 200-day moving average of $14.36. The company has a market capitalization of $7.13 billion, a PE ratio of 6.29, a P/E/G ratio of 1.49 and a beta of 0.34.

Analysts Set New Price Targets

Several research firms have issued reports on VIPS. Citigroup decreased their price objective on shares of Vipshop from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. Morgan Stanley lowered their price target on Vipshop from $16.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. UBS Group lowered Vipshop from a “buy” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $12.50 in a research report on Wednesday, August 21st. StockNews.com downgraded Vipshop from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, CLSA downgraded Vipshop from an “outperform” rating to a “hold” rating and dropped their target price for the company from $15.80 to $12.00 in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.50.

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.