Sumitomo Mitsui Trust Group Inc. Has $12.95 Million Stock Position in Vipshop Holdings Limited (NYSE:VIPS)

Sumitomo Mitsui Trust Group Inc. lessened its position in Vipshop Holdings Limited (NYSE:VIPS) by 0.1% in the first quarter, HoldingsChannel reports. The fund owned 825,551 shares of the technology company’s stock after selling 1,092 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Vipshop were worth $12,945,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VIPS. Y Intercept Hong Kong Ltd acquired a new stake in Vipshop in the fourth quarter valued at approximately $210,000. Metis Global Partners LLC grew its stake in Vipshop by 53.9% in the fourth quarter. Metis Global Partners LLC now owns 17,277 shares of the technology company’s stock valued at $233,000 after acquiring an additional 6,050 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Vipshop by 16.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,035,334 shares of the technology company’s stock valued at $27,416,000 after acquiring an additional 286,604 shares during the period. Daiwa Securities Group Inc. grew its stake in Vipshop by 5.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 25,900 shares of the technology company’s stock valued at $349,000 after acquiring an additional 1,400 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Vipshop by 32.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,119,045 shares of the technology company’s stock valued at $15,074,000 after acquiring an additional 270,986 shares during the period. Institutional investors and hedge funds own 48.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on VIPS shares. Barclays cut their target price on Vipshop from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. JPMorgan Chase & Co. cut their target price on Vipshop from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup cut Vipshop from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Tuesday, April 1st. Finally, Wall Street Zen cut Vipshop from a “buy” rating to a “hold” rating in a research report on Thursday, May 29th. Six 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, Vipshop presently has a consensus rating of “Hold” and a consensus price target of $15.58.

Vipshop Trading Down 0.5%

Shares of Vipshop stock opened at $14.99 on Friday. The business’s fifty day simple moving average is $14.53 and its 200 day simple moving average is $14.49. The firm has a market capitalization of $7.69 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 2.54 and a beta of 0.58. Vipshop Holdings Limited has a 12 month low of $11.50 and a 12 month high of $17.94.

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.