Mirae Asset Global Investments Co. Ltd. Decreases Stake in Vipshop Holdings Limited (NYSE:VIPS)

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Vipshop Holdings Limited (NYSE:VIPS) by 35.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 131,477 shares of the technology company’s stock after selling 72,504 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Vipshop were worth $2,069,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in VIPS. Krane Funds Advisors LLC raised its position in Vipshop by 20.3% during 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 during the last quarter. Hsbc Holdings PLC lifted its stake in Vipshop by 155.0% in the second quarter. Hsbc Holdings PLC now owns 3,483,943 shares of the technology company’s stock worth $45,347,000 after acquiring an additional 2,117,902 shares during the period. KEYWISE CAPITAL MANAGEMENT HK Ltd bought a new stake in Vipshop in the first quarter valued at $25,487,000. Swedbank AB purchased a new position in Vipshop during the 1st quarter valued at $19,185,000. Finally, LSV Asset Management raised its holdings in Vipshop by 21.6% in the 1st quarter. LSV Asset Management now owns 4,914,661 shares of the technology company’s stock worth $81,338,000 after purchasing an additional 872,639 shares in the last quarter. Institutional investors own 48.82% of the company’s stock.

Analysts Set New Price Targets

VIPS has been the topic of a number of research reports. CLSA lowered shares of Vipshop from an “outperform” rating to a “hold” rating and cut their target price for the company from $15.80 to $12.00 in a research note on Wednesday, August 21st. StockNews.com upgraded Vipshop from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Morgan Stanley lowered their target price on Vipshop from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 20th. Citigroup upped their price target on Vipshop from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, UBS Group downgraded Vipshop from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $12.50 in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.42.

Vipshop Stock Down 2.3 %

VIPS stock opened at $14.24 on Thursday. The business has a 50 day moving average of $14.18 and a 200 day moving average of $14.59. Vipshop Holdings Limited has a twelve month low of $11.50 and a twelve month high of $20.19. The firm has a market cap of $7.72 billion, a PE ratio of 6.62, a price-to-earnings-growth ratio of 1.58 and a beta of 0.34.

Vipshop (NYSE:VIPS) last posted its quarterly earnings results on Tuesday, August 20th. The technology company reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $3.43. The firm had revenue of $25.08 billion during the quarter, compared to analyst estimates of $26.61 billion. Vipshop had a return on equity of 22.51% and a net margin of 7.52%. Vipshop’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, research analysts expect that Vipshop Holdings Limited will post 1.97 earnings per share for the current fiscal year.

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.