Envestnet Asset Management Inc. Takes $3.75 Million Position in Vipshop Holdings Limited $VIPS

Envestnet Asset Management Inc. acquired a new position in shares of Vipshop Holdings Limited (NYSE:VIPS) during the third quarter, HoldingsChannel reports. The firm acquired 190,929 shares of the technology company’s stock, valued at approximately $3,750,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings in Vipshop by 575.5% during the 3rd quarter. Global Retirement Partners LLC now owns 2,925 shares of the technology company’s stock worth $57,000 after purchasing an additional 2,492 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Vipshop by 1,187.1% in the second quarter. Hantz Financial Services Inc. now owns 3,282 shares of the technology company’s stock valued at $49,000 after purchasing an additional 3,027 shares in the last quarter. Huntington National Bank boosted its position in shares of Vipshop by 53.8% during the second quarter. Huntington National Bank now owns 3,323 shares of the technology company’s stock worth $50,000 after buying an additional 1,163 shares during the period. Tobam bought a new position in shares of Vipshop during the second quarter worth about $91,000. Finally, PNC Financial Services Group Inc. raised its position in Vipshop by 65.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,091 shares of the technology company’s stock valued at $107,000 after buying an additional 2,809 shares during the last quarter. 48.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on VIPS shares. JPMorgan Chase & Co. upped their price target on Vipshop from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Zacks Research raised shares of Vipshop from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Barclays increased their target price on shares of Vipshop from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $22.60 price target on shares of Vipshop in a research note on Tuesday, December 30th. Finally, Wall Street Zen cut shares of Vipshop from a “buy” rating to a “hold” rating in a research report on Sunday, January 4th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Vipshop presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.38.

Vipshop Trading Up 2.5%

Shares of VIPS opened at $17.40 on Wednesday. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 1.43 and a beta of 0.72. Vipshop Holdings Limited has a 1-year low of $12.14 and a 1-year high of $21.08. The company’s fifty day simple moving average is $17.92 and its 200 day simple moving average is $18.34.

Vipshop Profile

Vipshop Holdings Limited (NYSE:VIPS) is a leading online discount retailer in China, offering high-quality branded products at competitive prices through a time-limited, flash-sales model. The company provides consumers with access to a rotating selection of merchandise, combining the excitement of limited-time offers with curated brand partnerships to drive customer engagement and loyalty.

Vipshop’s platform features a diverse range of product categories, including apparel, footwear, cosmetics, home furnishings, digital electronics and other lifestyle goods.