Sumitomo Mitsui Trust Group Inc. Buys 14,428 Shares of Vipshop Holdings Limited (NYSE:VIPS)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Vipshop Holdings Limited (NYSE:VIPS) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 842,863 shares of the technology company’s stock after purchasing an additional 14,428 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.16% of Vipshop worth $13,258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VIPS. Blue Trust Inc. boosted its holdings in shares of 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 during the period. Venturi Wealth Management LLC bought a new stake in Vipshop during the 3rd quarter valued at $56,000. Employees Retirement System of Texas raised its position in 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 purchasing an additional 2,717 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Vipshop in the 2nd quarter worth $136,000. Finally, Atomi Financial Group Inc. raised its position in shares of Vipshop by 6.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,050 shares of the technology company’s stock worth $174,000 after acquiring an additional 702 shares in the last quarter. Institutional investors own 48.82% of the company’s stock.

Analysts Set New Price Targets

VIPS has been the topic of several research analyst reports. CLSA downgraded Vipshop from an “outperform” rating to a “hold” rating and dropped their target price for the stock from $15.80 to $12.00 in a research note on Wednesday, August 21st. Citigroup upped their target price on Vipshop from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. UBS Group downgraded Vipshop from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $12.50 in a research note on Wednesday, August 21st. Barclays started coverage on Vipshop in a research report on Wednesday, November 6th. They set an “overweight” rating and a $19.00 price target on the stock. Finally, StockNews.com downgraded Vipshop from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Vipshop presently has a consensus rating of “Hold” and an average price target of $17.64.

Vipshop Stock Performance

Vipshop stock opened at $13.93 on Monday. Vipshop Holdings Limited has a fifty-two week low of $11.50 and a fifty-two week high of $20.19. The company has a market capitalization of $7.56 billion, a P/E ratio of 6.60, a PEG ratio of 1.56 and a beta of 0.34. The stock has a 50-day simple moving average of $14.60 and a 200-day simple moving average of $14.47.

Vipshop (NYSE:VIPS) last posted its earnings results on Tuesday, August 20th. The technology company reported $3.91 earnings per share for the quarter, beating the consensus estimate of $0.48 by $3.43. The business had revenue of $25.08 billion during the quarter, compared to the consensus estimate of $26.61 billion. Vipshop had a return on equity of 22.51% and a net margin of 7.52%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 EPS. As a group, analysts forecast that Vipshop Holdings Limited will post 1.97 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.