State Street Corp Sells 183,123 Shares of Vipshop Holdings Limited (NYSE:VIPS)

State Street Corp cut its stake in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,329,729 shares of the technology company's stock after selling 183,123 shares during the quarter. State Street Corp owned approximately 1.35% of Vipshop worth $115,297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VIPS. Blue Trust Inc. raised its stake in Vipshop by 1,904.0% in the 2nd quarter. Blue Trust Inc. now owns 3,527 shares of the technology company's stock worth $46,000 after purchasing an additional 3,351 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Vipshop during the third quarter worth approximately $56,000. Employees Retirement System of Texas lifted its position in shares of Vipshop by 143.2% during the 2nd quarter. Employees Retirement System of Texas now owns 4,614 shares of the technology company's stock valued at $60,000 after acquiring an additional 2,717 shares during the period. National Bank of Canada FI acquired a new position in Vipshop in the second quarter valued at about $136,000. Finally, Atomi Financial Group Inc. lifted its position in Vipshop by 6.8% during the third quarter. Atomi Financial Group Inc. now owns 11,050 shares of the technology company's stock worth $174,000 after purchasing an additional 702 shares during the period. Institutional investors own 48.82% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VIPS. CLSA downgraded shares of Vipshop from an "outperform" rating to a "hold" rating and cut their price target for the stock from $15.80 to $12.00 in a report on Wednesday, August 21st. 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. Barclays began coverage on Vipshop in a research note on Wednesday, November 6th. They issued an "overweight" rating and a $19.00 price objective on the stock. Citigroup lowered their target price on Vipshop from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, November 20th. Finally, Benchmark restated a "hold" rating on shares of Vipshop in a research note on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Vipshop has a consensus rating of "Hold" and a consensus price target of $17.50.

Vipshop Stock Performance

Shares of Vipshop stock traded down $0.40 on Monday, hitting $13.21. The stock had a trading volume of 4,101,933 shares, compared to its average volume of 3,869,342. The stock has a 50 day moving average of $14.24 and a 200 day moving average of $14.07. The firm has a market capitalization of $6.78 billion, a P/E ratio of 6.32, a PEG ratio of 1.56 and a beta of 0.31. Vipshop Holdings Limited has a twelve month low of $11.50 and a twelve month high of $20.19.

About Vipshop

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.