Vipshop Holdings Limited (NYSE:VIPS) Stock Holdings Decreased by Summit Global Investments

Summit Global Investments decreased its holdings in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 56.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,408 shares of the technology company's stock after selling 60,367 shares during the quarter. Summit Global Investments' holdings in Vipshop were worth $746,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Vipshop by 1,904.0% during the second 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 during the last quarter. Employees Retirement System of Texas boosted its holdings in shares of Vipshop by 143.2% in the second 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 in the last quarter. National Bank of Canada FI purchased a new position in Vipshop during the second quarter worth about $136,000. Atomi Financial Group Inc. boosted its holdings in Vipshop by 6.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,050 shares of the technology company's stock valued at $174,000 after purchasing an additional 702 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Vipshop by 19.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,698 shares of the technology company's stock worth $204,000 after purchasing an additional 2,528 shares during the period. Institutional investors and hedge funds own 48.82% of the company's stock.

Vipshop Stock Down 5.5 %

Shares of NYSE VIPS traded down $0.81 during trading on Friday, hitting $13.97. 3,637,423 shares of the company traded hands, compared to its average volume of 2,496,819. The company has a 50-day moving average price of $14.45 and a 200-day moving average price of $14.53. Vipshop Holdings Limited has a 1 year low of $11.50 and a 1 year high of $20.19. The firm has a market capitalization of $7.58 billion, a P/E ratio of 6.62, a P/E/G ratio of 1.57 and a beta of 0.34.

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

Analysts Set New Price Targets

VIPS has been the topic of several research analyst reports. Morgan Stanley decreased their target price on shares of Vipshop from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 20th. Barclays assumed coverage on Vipshop in a report on Wednesday. They issued an "overweight" rating and a $19.00 price target on the stock. StockNews.com raised Vipshop from a "hold" rating to a "buy" rating in a report on Thursday, September 12th. Citigroup increased their price objective on shares of Vipshop from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Finally, CLSA downgraded shares of Vipshop from an "outperform" rating to a "hold" rating and reduced their price target for the company from $15.80 to $12.00 in a report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $17.64.

Vipshop 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.