iA Global Asset Management Inc. Reduces Stock Holdings in Vipshop Holdings Limited (NYSE:VIPS)

iA Global Asset Management Inc. lowered its position in Vipshop Holdings Limited (NYSE:VIPS) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,292 shares of the technology company’s stock after selling 1,743 shares during the quarter. iA Global Asset Management Inc.’s holdings in Vipshop were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Vipshop by 1.8% in the first quarter. Vanguard Group Inc. now owns 13,762,669 shares of the technology company’s stock valued at $227,772,000 after purchasing an additional 248,743 shares during the period. FIL Ltd boosted its stake in shares of Vipshop by 31.2% in the fourth quarter. FIL Ltd now owns 10,911,703 shares of the technology company’s stock valued at $193,792,000 after purchasing an additional 2,593,670 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Vipshop by 28.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 10,394,122 shares of the technology company’s stock valued at $184,600,000 after purchasing an additional 2,273,198 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Vipshop by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,375,051 shares of the technology company’s stock valued at $105,507,000 after purchasing an additional 52,842 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Vipshop by 0.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,154,041 shares of the technology company’s stock valued at $91,536,000 after purchasing an additional 47,004 shares during the period. Hedge funds and other institutional investors own 48.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Vipshop from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Benchmark cut shares of Vipshop from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, StockNews.com cut shares of Vipshop from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Vipshop Stock Performance

VIPS stock traded down $0.12 during midday trading on Friday, reaching $13.08. 2,014,511 shares of the company were exchanged, compared to its average volume of 3,905,185. Vipshop Holdings Limited has a 1-year low of $12.76 and a 1-year high of $20.19. The stock’s 50-day simple moving average is $14.53 and its 200 day simple moving average is $15.88. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 6.06 and a beta of 0.32.

Vipshop (NYSE:VIPS) last released its quarterly earnings data on Wednesday, May 22nd. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Vipshop had a net margin of 7.60% and a return on equity of 23.74%. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. On average, research analysts anticipate that Vipshop Holdings Limited will post 2.16 earnings per share for the current year.

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.