Mirae Asset Global Investments Co. Ltd. lessened its position in Vipshop Holdings Limited (NYSE:VIPS – Get Rating) by 5.4% during the first quarter, Holdings Channel reports. The fund owned 1,967,546 shares of the technology company’s stock after selling 111,729 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vipshop were worth $17,708,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Fieldpoint Private Securities LLC boosted its position in Vipshop by 170.1% during the first quarter. Fieldpoint Private Securities LLC now owns 4,510 shares of the technology company’s stock valued at $41,000 after buying an additional 2,840 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in Vipshop during the first quarter valued at about $65,000. Leo Brokerage LLC purchased a new stake in Vipshop during the first quarter valued at about $91,000. Quadrant Capital Group LLC boosted its position in Vipshop by 59.6% during the first quarter. Quadrant Capital Group LLC now owns 10,758 shares of the technology company’s stock valued at $97,000 after buying an additional 4,018 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in Vipshop during the first quarter valued at about $102,000. Institutional investors own 52.29% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Credit Suisse Group upgraded shares of Vipshop from a “neutral” rating to an “outperform” rating and upped their price target for the company from $10.30 to $12.00 in a research report on Monday, August 22nd. StockNews.com upgraded shares of Vipshop from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Finally, Citigroup upgraded shares of Vipshop from a “sell” rating to a “neutral” rating and increased their target price for the stock from $7.80 to $10.90 in a report on Monday, August 22nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.48.
Vipshop Stock Performance
Vipshop (NYSE:VIPS – Get Rating) last announced its quarterly earnings results on Friday, August 19th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Vipshop had a net margin of 4.05% and a return on equity of 15.09%. The company had revenue of $24.54 billion for the quarter, compared to the consensus estimate of $23.02 billion. During the same period in the previous year, the firm posted $0.28 EPS. Vipshop’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, equities research analysts predict that Vipshop Holdings Limited will post 1.18 earnings per share for the current year.
Vipshop Holdings Limited operates online platforms for various brands in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers women's apparel, such as casual wear, jeans, dresses, outerwear, lingerie, pajamas, and maternity clothes; men's apparel comprising casual and smart-casual T-shirts, polo shirts, jackets, pants, and underwear; and skin care and cosmetic products, including cleansers, lotions, face and body creams, face masks, sunscreen, foundations, lipsticks, eye shadows, and other cosmetics-related items.
- Get a free copy of the StockNews.com research report on Vipshop (VIPS)
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