BlackRock Inc. Reduces Position in Vipshop Holdings Limited (NYSE:VIPS)

BlackRock Inc. reduced its holdings in Vipshop Holdings Limited (NYSE:VIPS – Get Rating) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,622,423 shares of the technology company’s stock after selling 126,530 shares during the period. BlackRock Inc.’s holdings in Vipshop were worth $223,895,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VIPS. California Public Employees Retirement System raised its holdings in Vipshop by 16.9% in the 3rd quarter. California Public Employees Retirement System now owns 906,579 shares of the technology company’s stock valued at $7,624,000 after acquiring an additional 131,156 shares during the last quarter. LSV Asset Management lifted its position in Vipshop by 36.9% during the third quarter. LSV Asset Management now owns 2,095,800 shares of the technology company’s stock worth $17,626,000 after buying an additional 565,400 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Vipshop by 3.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,434,107 shares of the technology company’s stock worth $45,701,000 after buying an additional 182,290 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Vipshop by 3,100.6% in the 3rd quarter. New York State Common Retirement Fund now owns 81,135 shares of the technology company’s stock valued at $682,000 after buying an additional 78,600 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Vipshop in the 3rd quarter worth $598,000. 49.81% of the stock is owned by hedge funds and other institutional investors.

Vipshop Price Performance

Shares of Vipshop stock opened at $14.63 on Tuesday. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 10.11 and a beta of 0.45. The business has a 50-day moving average of $14.78 and a 200 day moving average of $11.70. Vipshop Holdings Limited has a 12 month low of $5.75 and a 12 month high of $16.18.

Vipshop (NYSE:VIPS – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Vipshop had a net margin of 6.05% and a return on equity of 16.75%. Equities research analysts anticipate that Vipshop Holdings Limited will post 1.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Benchmark raised shares of Vipshop from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, February 24th. UBS Group upgraded shares of Vipshop from a “neutral” rating to a “buy” rating and set a $17.50 price target for the company in a report on Friday, February 24th. JPMorgan Chase & Co. upped their price objective on Vipshop from $10.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, January 11th. Nomura raised Vipshop from a “neutral” rating to a “buy” rating in a research note on Friday, February 24th. Finally, Citigroup decreased their price target on Vipshop from $17.00 to $15.00 in a research note on Monday, February 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

About Vipshop

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Vipshop Holdings Ltd. operates as a holding company which through its subsidiaries engages in the provision of online product sales and distributions services. It offers womenswear, menswear, footwear, accessories, handbags, apparel for children, sportswear and sporting goods, cosmetic goods, home and lifestyle products, luxury goods, and gifts and miscellaneous.