iA Global Asset Management Inc. Lowers Position in Vipshop Holdings Limited $VIPS

iA Global Asset Management Inc. cut its holdings in Vipshop Holdings Limited (NYSE:VIPS) by 52.3% in the second quarter, Holdings Channel reports. The fund owned 2,641 shares of the technology company’s stock after selling 2,899 shares during the quarter. iA Global Asset Management Inc.’s holdings in Vipshop were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in VIPS. Cambridge Investment Research Advisors Inc. purchased a new stake in Vipshop in the first quarter worth about $427,000. Vontobel Holding Ltd. lifted its stake in Vipshop by 19.1% in the first quarter. Vontobel Holding Ltd. now owns 14,638 shares of the technology company’s stock worth $230,000 after acquiring an additional 2,352 shares during the period. Principal Financial Group Inc. purchased a new stake in Vipshop in the first quarter worth about $27,051,000. IFM Investors Pty Ltd lifted its stake in Vipshop by 37.9% in the first quarter. IFM Investors Pty Ltd now owns 22,571 shares of the technology company’s stock worth $355,000 after acquiring an additional 6,201 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Vipshop in the first quarter worth about $35,000. 48.82% of the stock is owned by hedge funds and other institutional investors.

Vipshop Trading Up 2.1%

NYSE VIPS opened at $17.93 on Wednesday. The firm’s fifty day simple moving average is $18.44 and its two-hundred day simple moving average is $16.20. Vipshop Holdings Limited has a 12-month low of $12.14 and a 12-month high of $21.08. The firm has a market capitalization of $9.19 billion, a P/E ratio of 9.75, a P/E/G ratio of 2.11 and a beta of 0.71.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America lowered their price objective on shares of Vipshop from $17.80 to $17.30 and set a “buy” rating for the company in a research note on Friday, July 18th. Citigroup boosted their target price on shares of Vipshop from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vipshop in a report on Wednesday, October 8th. Zacks Research downgraded shares of Vipshop from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Finally, Wall Street Zen upgraded shares of Vipshop from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.33.

Vipshop Company 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.