JPMorgan Chase & Co. Sells 1,389,804 Shares of Vipshop Holdings Limited (NYSE:VIPS)

JPMorgan Chase & Co. reduced its holdings in shares of Vipshop Holdings Limited (NYSE:VIPS) by 45.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,688,995 shares of the technology company’s stock after selling 1,389,804 shares during the quarter. JPMorgan Chase & Co.’s holdings in Vipshop were worth $26,568,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Atomi Financial Group Inc. increased its holdings in Vipshop by 6.8% during the third quarter. Atomi Financial Group Inc. now owns 11,050 shares of the technology company’s stock worth $174,000 after buying an additional 702 shares during the last quarter. Signaturefd LLC increased its stake in shares of Vipshop by 5.1% during the 3rd quarter. Signaturefd LLC now owns 16,704 shares of the technology company’s stock worth $263,000 after purchasing an additional 817 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Vipshop by 2.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 48,963 shares of the technology company’s stock worth $770,000 after purchasing an additional 954 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in Vipshop by 0.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 298,200 shares of the technology company’s stock valued at $4,691,000 after purchasing an additional 2,055 shares during the last quarter. Finally, National Pension Service grew its holdings in Vipshop by 2.0% during the third quarter. National Pension Service now owns 107,152 shares of the technology company’s stock valued at $1,686,000 after purchasing an additional 2,074 shares during the period. 48.82% of the stock is currently owned by institutional investors.

Vipshop Stock Performance

NYSE:VIPS opened at $13.04 on Wednesday. Vipshop Holdings Limited has a 52-week low of $11.50 and a 52-week high of $20.19. The stock has a fifty day moving average of $13.70 and a 200 day moving average of $13.82. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 6.24, a P/E/G ratio of 1.56 and a beta of 0.31.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VIPS. Citigroup dropped their price target on Vipshop from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, November 20th. Barclays started coverage on Vipshop in a report on Wednesday, November 6th. They issued an “overweight” rating and a $19.00 price target for the company. Benchmark reiterated a “hold” rating on shares of Vipshop in a research note on Wednesday, November 20th. Finally, StockNews.com downgraded Vipshop from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Vipshop presently has a consensus rating of “Hold” and a consensus target price of $17.50.

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.