California Public Employees Retirement System lowered its position in Vipshop Holdings Limited (NYSE:VIPS – Get Rating) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 775,423 shares of the technology company’s stock after selling 72,014 shares during the period. California Public Employees Retirement System owned about 0.11% of Vipshop worth $7,669,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Employees Retirement System of Texas purchased a new position in Vipshop in the second quarter valued at about $43,000. Quadrant Capital Group LLC increased its holdings in Vipshop by 59.6% in 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 in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Vipshop in the first quarter valued at about $102,000. Ground Swell Capital LLC purchased a new position in Vipshop in the first quarter valued at about $105,000. Finally, HighTower Advisors LLC purchased a new position in shares of Vipshop during the 1st quarter worth approximately $108,000. Institutional investors and hedge funds own 52.29% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Vipshop from $10.10 to $11.40 and gave the stock a “neutral” rating in a research note on Wednesday. Daiwa Capital Markets dropped their price objective on shares of Vipshop from $10.00 to $8.80 in a research note on Thursday, September 29th. Citigroup dropped their price objective on shares of Vipshop from $10.90 to $10.00 in a research note on Thursday, October 6th. StockNews.com raised shares of Vipshop from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Credit Suisse Group raised shares of Vipshop from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $10.30 to $12.00 in a research note on Monday, August 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.66.
Vipshop Stock Performance
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.
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