Skandinaviska Enskilda Banken AB publ Has $7.94 Million Holdings in Vipshop Holdings Limited (NYSE:VIPS)

Skandinaviska Enskilda Banken AB publ grew its holdings in Vipshop Holdings Limited (NYSE:VIPS) by 621.8% during the first quarter, Holdings Channel.com reports. The firm owned 506,114 shares of the technology company’s stock after acquiring an additional 436,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Vipshop were worth $7,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VIPS. Wayfinding Financial LLC acquired a new position in Vipshop during the first quarter worth $35,000. Sound Income Strategies LLC acquired a new position in Vipshop during the first quarter worth $62,000. AM Investment Strategies LLC acquired a new position in Vipshop during the first quarter worth $157,000. Jump Financial LLC acquired a new position in Vipshop during the fourth quarter worth $161,000. Finally, Ballentine Partners LLC acquired a new position in Vipshop during the first quarter worth $163,000. 48.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Vipshop from $17.80 to $17.30 and set a “buy” rating on the stock in a report on Friday, July 18th. JPMorgan Chase & Co. lowered their target price on shares of Vipshop from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. Wall Street Zen downgraded shares of Vipshop from a “buy” rating to a “hold” rating in a report on Thursday, May 29th. Barclays reduced their price objective on shares of Vipshop from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. Finally, Citigroup cut shares of Vipshop from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research report on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Vipshop has a consensus rating of “Hold” and an average target price of $15.83.

Vipshop Stock Performance

Shares of Vipshop stock opened at $15.98 on Friday. The firm has a 50-day moving average of $14.94 and a 200-day moving average of $14.73. The stock has a market cap of $8.19 billion, a PE ratio of 8.36, a PEG ratio of 1.78 and a beta of 0.58. Vipshop Holdings Limited has a 52-week low of $11.50 and a 52-week high of $17.94.

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.