Summit Global Investments Has $746,000 Stake in Vipshop Holdings Limited (NYSE:VIPS)

Summit Global Investments lowered its stake in Vipshop Holdings Limited (NYSE:VIPS) by 56.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,408 shares of the technology company’s stock after selling 60,367 shares during the period. Summit Global Investments’ holdings in Vipshop were worth $746,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. First Beijing Investment Ltd acquired a new stake in Vipshop in the 3rd quarter worth approximately $120,182,000. Asset Management One Co. Ltd. lifted its stake in shares of Vipshop by 2.0% in the third quarter. Asset Management One Co. Ltd. now owns 48,963 shares of the technology company’s stock worth $770,000 after buying an additional 954 shares during the last quarter. National Pension Service boosted its holdings in shares of Vipshop by 2.0% during the 3rd quarter. National Pension Service now owns 107,152 shares of the technology company’s stock worth $1,686,000 after buying an additional 2,074 shares during the period. Van ECK Associates Corp grew its stake in Vipshop by 30.1% in the 3rd quarter. Van ECK Associates Corp now owns 54,392 shares of the technology company’s stock valued at $856,000 after buying an additional 12,587 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new position in Vipshop in the 3rd quarter worth $421,000. Institutional investors own 48.82% of the company’s stock.

Vipshop Price Performance

VIPS opened at $13.97 on Friday. Vipshop Holdings Limited has a fifty-two week low of $11.50 and a fifty-two week high of $20.19. The company has a market capitalization of $7.58 billion, a P/E ratio of 6.62, a P/E/G ratio of 1.65 and a beta of 0.34. The firm’s fifty day moving average price is $14.45 and its two-hundred day moving average price is $14.53.

Vipshop (NYSE:VIPS) last issued its earnings results on Tuesday, August 20th. The technology company reported $3.91 earnings per share for the quarter, beating the consensus estimate of $0.48 by $3.43. Vipshop had a net margin of 7.52% and a return on equity of 22.51%. The business had revenue of $25.08 billion for the quarter, compared to analyst estimates of $26.61 billion. During the same period in the previous year, the business earned $0.51 EPS. The firm’s revenue was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Vipshop Holdings Limited will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VIPS has been the topic of several research analyst reports. Barclays initiated coverage on Vipshop in a research report on Wednesday. They issued an “overweight” rating and a $19.00 price target on the stock. UBS Group lowered Vipshop from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $12.50 in a report on Wednesday, August 21st. Morgan Stanley cut their price target on Vipshop from $16.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. Citigroup raised their price objective on shares of Vipshop from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, CLSA cut shares of Vipshop from an “outperform” rating to a “hold” rating and cut their target price for the company from $15.80 to $12.00 in a research note on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.64.

Vipshop 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.