Van ECK Associates Corp Has $319,000 Stock Holdings in Vipshop Holdings Limited (NYSE:VIPS)

Posted by Defense World Staff on Aug 8th, 2023

Van ECK Associates Corp lifted its holdings in shares of Vipshop Holdings Limited (NYSE:VIPS – Free Report) by 28.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,043 shares of the technology company’s stock after buying an additional 4,716 shares during the period. Van ECK Associates Corp’s holdings in Vipshop were worth $319,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VIPS. Natixis acquired a new position in shares of Vipshop during the 4th quarter worth about $27,000. Financial Management Professionals Inc. acquired a new position in shares of Vipshop during the 1st quarter worth about $28,000. IFP Advisors Inc boosted its stake in shares of Vipshop by 69.5% during the 4th quarter. IFP Advisors Inc now owns 3,115 shares of the technology company’s stock worth $38,000 after buying an additional 1,277 shares during the last quarter. CWM LLC raised its holdings in shares of Vipshop by 225.0% in the 4th quarter. CWM LLC now owns 3,549 shares of the technology company’s stock valued at $48,000 after purchasing an additional 2,457 shares during the period. Finally, Mendota Financial Group LLC bought a new stake in shares of Vipshop in the 1st quarter valued at about $48,000. 44.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VIPS shares. Bank of America upped their target price on shares of Vipshop from $15.20 to $17.80 in a report on Tuesday, May 23rd. StockNews.com cut shares of Vipshop from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. UBS Group upped their target price on shares of Vipshop from $18.50 to $20.00 in a report on Friday, June 30th. JPMorgan Chase & Co. upped their target price on shares of Vipshop from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, June 30th. Finally, HSBC upped their target price on shares of Vipshop from $12.50 to $14.40 in a report on Wednesday, May 24th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.67.

Get Our Latest Report on VIPS

Vipshop Stock Up 0.1 %

Shares of NYSE:VIPS opened at $17.64 on Tuesday. The company’s 50 day moving average price is $16.91 and its two-hundred day moving average price is $15.62. Vipshop Holdings Limited has a 12-month low of $6.36 and a 12-month high of $19.13. The firm has a market cap of $10.33 billion, a PE ratio of 10.62 and a beta of 0.53.

Vipshop (NYSE:VIPS – Get Free Report) last announced its earnings results on Tuesday, May 23rd. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. Vipshop had a net margin of 6.68% and a return on equity of 18.69%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.77 billion. On average, research analysts expect that Vipshop Holdings Limited will post 1.69 EPS for the current year.

Vipshop Company Profile

(Free Report)

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, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.