# Vipshop Holdings Limited (VIPS)

> Source: Nexqual · https://nexqual.com/VIPS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Vipshop Holdings Limited (VIPS), nexqual.com/VIPS" · informational, not investment advice.

**Price:** USD 12.77 (+1.43% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 12.59 · day 12.39–12.82 · 52w 12.02–20.49 · market cap $6.07B · NYQ

## Key facts
- 1 of 80 tracked superinvestors hold VIPS (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 10 Form 4 filings, $951K; 10 not under a Rule 10b5-1 plan ($951K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.24 on a 1–5 scale) (21 analysts), mean target USD 16.11 (range 12.9–20.15).
- Total return with dividends: 1Y -27.7% vs S&P 500 +14.9%; 5Y +13.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-19, EPS estimate USD 2.74, revenue estimate $20.4B.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold VIPS. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $2.5M | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 10 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-13 | Li Tianmin | Chief Technology Officer | 2,394 | $153K | 3.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-10-13 | Liu Chun | Director | 181 | $12K | 1.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-09-08 | Wang Yuhua | Chief Financial Officer | 2,499 | $162K | 4.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-09-08 | Yang Donghao | Director | 479 | $31K | 0.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-07 | Li Tianmin | Chief Technology Officer | 2,518 | $170K | 3.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-07 | Liu Chun | Director | 174 | $12K | 1.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-09 | Yang Donghao | Director | 397 | $28K | 0.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-09 | Wang Yuhua | Chief Financial Officer | 2,589 | $179K | 4.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-08 | Liu Chun | Director | 145 | $11K | 0.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-08 | Li Tianmin | Chief Technology Officer | 2,482 | $193K | 3.6% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.24 on a 1–5 scale), 21 analysts; mean target USD 16.11 (low 12.9, high 20.15).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Citigroup | Target lowered | Neutral | $15.3 → $13 |
| 2026-09-10 | JP Morgan | Target lowered | Overweight | $21 → $17 |
| 2026-08-27 | Barclays | Target lowered | Overweight | $20 → $19 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -27.7% | +13.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -27.8% | +2.6% |
| Volatility (annualized) | 31.7% | 47.0% |
| Max drawdown | -37.9% (Dec 2025→Sep 2026) | -49.2% (Nov 2021→Mar 2022) |

## Peers (Internet Retail)
GLBE (Global-E Online Ltd.) USD 41.33 +0.46% · ETSY (Etsy, Inc.) USD 90.82 +4.12% · CHWY (Chewy, Inc.) USD 22.33 +4.69% · CART (Maplebear Inc.) USD 51.68 +2.72% · PTRN (Pattern Group Inc. - Series A) USD 16.53 -5.27% · W (Wayfair Inc.) USD 113.49 +0.16%

## More
Full page: https://nexqual.com/VIPS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in VIPS's own 20-F filed 2026-04-16 (https://www.sec.gov/Archives/edgar/data/1529192/000110465926044015/vips-20251231x20f.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Guangzhou Pinwei Software | "Along with the growth of our mobile active customers and mobile service offerings, Vipshop China formed Guangzhou Pinwei Software Co., Ltd. in 2012 as a research and development center to focus on our mobile product and …" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.74 | $3.22 | -15.1% | $20.41B | 7 |
| Next quarter (ends 2026-12-31) | $5.24 | $5.70 | -8.1% | $31.51B | 6 |
| Current fiscal year (ends 2026-12-31) | $13.33 | $17.25 | -22.7% | $103.22B | 16 |
| Next fiscal year (ends 2027-12-31) | $16.83 | $18.32 | -8.1% | $103.86B | 16 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-19): ±10.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 46.2% | ±10.6% |
| 2027-01-15 | 84 | 60.7% | ±23.5% |
| 2027-02-19 | 119 | 32.6% | ±15.1% |
| 2027-05-21 | 210 | 39.2% | ±24.9% |
| 2027-06-17 | 237 | 44.6% | ±29.2% |