Wells Fargo & Company MN raised its position in shares of Farfetch Ltd (NYSE:FTCH) by 52.4% in the first quarter, HoldingsChannel reports. The firm owned 1,292,908 shares of the company’s stock after acquiring an additional 444,511 shares during the period. Wells Fargo & Company MN’s holdings in Farfetch were worth $34,793,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Timpani Capital Management LLC purchased a new stake in shares of Farfetch in the first quarter worth about $545,000. BlackRock Inc. boosted its stake in shares of Farfetch by 11.6% in the first quarter. BlackRock Inc. now owns 1,128,106 shares of the company’s stock worth $30,358,000 after buying an additional 117,011 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Farfetch in the first quarter worth about $276,000. New York State Common Retirement Fund boosted its stake in shares of Farfetch by 52.4% in the first quarter. New York State Common Retirement Fund now owns 371,819 shares of the company’s stock worth $10,006,000 after buying an additional 127,773 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new stake in shares of Farfetch in the first quarter worth about $18,862,000. 48.31% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. Zacks Investment Research downgraded Farfetch from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Wells Fargo & Co set a $32.00 target price on Farfetch and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp assumed coverage on Farfetch in a research note on Wednesday. They issued an “overweight” rating and a $27.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on Farfetch in a research note on Tuesday, April 16th. They issued an “underperform” rating and a $23.00 target price on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Farfetch has a consensus rating of “Buy” and an average target price of $28.27.
NYSE FTCH traded down $0.31 during trading hours on Friday, reaching $21.64. The company’s stock had a trading volume of 53,624 shares, compared to its average volume of 4,790,727. The stock has a market capitalization of $6.32 billion and a price-to-earnings ratio of -36.75. Farfetch Ltd has a 1-year low of $15.98 and a 1-year high of $32.40. The company has a current ratio of 4.57, a quick ratio of 4.22 and a debt-to-equity ratio of 0.07.
Farfetch (NYSE:FTCH) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.19). The company had revenue of $174.06 million during the quarter, compared to the consensus estimate of $171.06 million. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) earnings per share. Equities analysts predict that Farfetch Ltd will post -0.88 EPS for the current fiscal year.
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Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.
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