Krane Funds Advisors LLC Has $3.69 Million Holdings in Vipshop Holdings Limited (NYSE:VIPS)

Krane Funds Advisors LLC lowered its position in shares of Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 98.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 234,681 shares of the technology company's stock after selling 15,502,700 shares during the quarter. Vipshop accounts for 3.1% of Krane Funds Advisors LLC's holdings, making the stock its 7th biggest position. Krane Funds Advisors LLC's holdings in Vipshop were worth $3,692,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Vipshop by 238.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 120,582 shares of the technology company's stock valued at $1,996,000 after buying an additional 84,976 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in Vipshop by 3.2% in the first quarter. Jupiter Asset Management Ltd. now owns 1,536,699 shares of the technology company's stock valued at $25,432,000 after acquiring an additional 48,300 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Vipshop in the 1st quarter valued at about $1,211,000. Swiss National Bank increased its stake in shares of Vipshop by 6.9% during the 1st quarter. Swiss National Bank now owns 807,862 shares of the technology company's stock worth $13,370,000 after purchasing an additional 52,488 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Vipshop in the 1st quarter valued at about $19,185,000. 48.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VIPS has been the topic of a number of recent analyst reports. UBS Group downgraded Vipshop from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $20.00 to $12.50 in a research report on Wednesday, August 21st. Citigroup increased their price target on Vipshop from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, September 27th. StockNews.com raised shares of Vipshop from a "hold" rating to a "buy" rating in a research report on Thursday, September 12th. Morgan Stanley cut their target price on shares of Vipshop from $16.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 20th. Finally, CLSA lowered shares of Vipshop from an "outperform" rating to a "hold" rating and decreased their price target for the company from $15.80 to $12.00 in a research note 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 company's stock. According to MarketBeat, Vipshop currently has an average rating of "Hold" and a consensus target price of $17.42.

Vipshop Stock Performance

Shares of VIPS stock traded down $0.14 on Friday, hitting $14.30. The company's stock had a trading volume of 3,159,570 shares, compared to its average volume of 4,064,812. Vipshop Holdings Limited has a fifty-two week low of $11.50 and a fifty-two week high of $20.19. The company has a market capitalization of $7.75 billion, a PE ratio of 6.65 and a beta of 0.34. The stock's 50 day moving average is $14.05 and its 200-day moving average is $14.76.

Vipshop (NYSE:VIPS - Get Free Report) last announced its earnings results on Tuesday, August 20th. The technology company reported $3.91 EPS for the quarter, topping the consensus estimate of $0.48 by $3.43. The company had revenue of $25.08 billion for the quarter, compared to analysts' expectations of $26.61 billion. Vipshop had a net margin of 7.52% and a return on equity of 22.51%. The business's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. On average, research analysts forecast that Vipshop Holdings Limited will post 1.97 earnings per share for the current 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.