Envestnet Asset Management Inc. Cuts Position in Vipshop Holdings Limited (NYSE:VIPS)

Envestnet Asset Management Inc. lowered its holdings in shares of Vipshop Holdings Limited (NYSE:VIPS) by 36.8% during the second quarter, HoldingsChannel.com reports. The firm owned 487,562 shares of the technology company’s stock after selling 284,021 shares during the period. Envestnet Asset Management Inc.’s holdings in Vipshop were worth $6,348,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new position in Vipshop during the fourth quarter worth about $39,000. Blue Trust Inc. increased its position in shares of Vipshop by 1,904.0% during 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 last quarter. National Bank of Canada FI acquired a new position in Vipshop in the second quarter valued at about $136,000. Ballentine Partners LLC acquired a new stake in shares of Vipshop during the first quarter valued at about $189,000. Finally, Claro Advisors LLC acquired a new position in shares of Vipshop in the 1st quarter worth approximately $189,000. 48.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VIPS. Morgan Stanley reduced their price target on shares of Vipshop from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 20th. CLSA lowered Vipshop from an “outperform” rating to a “hold” rating and cut their price objective for the stock from $15.80 to $12.00 in a research report on Wednesday, August 21st. UBS Group cut 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. Citigroup lifted their price objective on Vipshop from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Friday. Finally, StockNews.com upgraded shares of Vipshop from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Vipshop has a consensus rating of “Hold” and a consensus target price of $17.42.

Vipshop Stock Performance

VIPS stock opened at $15.77 on Monday. The stock has a 50-day simple moving average of $13.25 and a 200-day simple moving average of $14.81. The firm has a market cap of $8.55 billion, a P/E ratio of 7.33 and a beta of 0.33. Vipshop Holdings Limited has a 1 year low of $11.50 and a 1 year high of $20.19.

Vipshop (NYSE:VIPS) last posted its quarterly earnings data on Tuesday, August 20th. The technology company reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $3.43. Vipshop had a net margin of 7.52% and a return on equity of 22.51%. The firm had revenue of $25.08 billion for the quarter, compared to the consensus estimate of $26.61 billion. During the same period in the prior year, the firm posted $0.51 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Vipshop Holdings Limited will post 2 EPS for the current year.

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.