BlackRock Inc. cut its stake in Farfetch Ltd (NYSE:FTCH) by 35.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,011,095 shares of the company’s stock after selling 558,217 shares during the quarter. BlackRock Inc. owned about 0.35% of Farfetch worth $17,906,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Morgan Stanley acquired a new stake in shares of Farfetch during the 3rd quarter worth about $86,369,000. JPMorgan Chase & Co. acquired a new stake in shares of Farfetch during the 3rd quarter worth about $14,835,000. Jane Street Group LLC acquired a new stake in shares of Farfetch during the 3rd quarter worth about $2,969,000. Parkwood LLC acquired a new stake in shares of Farfetch during the 4th quarter worth about $231,000. Finally, Global Thematic Partners LLC acquired a new stake in shares of Farfetch during the 4th quarter worth about $21,275,000. 41.99% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on FTCH shares. Zacks Investment Research downgraded Farfetch from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Goldman Sachs Group raised Farfetch from a “neutral” rating to a “buy” rating in a research report on Friday, March 1st. Citigroup started coverage on Farfetch in a research report on Monday, March 11th. They set an “outperform” rating and a $34.00 price objective for the company. Finally, Oppenheimer started coverage on Farfetch in a research report on Monday, March 11th. They set an “outperform” rating and a $34.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $28.56.
Shares of Farfetch stock opened at $25.02 on Tuesday. Farfetch Ltd has a 12 month low of $15.98 and a 12 month high of $32.40. The stock has a market cap of $7.45 billion and a P/E ratio of -42.41.
Farfetch (NYSE:FTCH) last announced its earnings results on Thursday, February 28th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. The firm had revenue of $195.53 million for the quarter, compared to analysts’ expectations of $180.44 million. As a group, equities analysts anticipate that Farfetch Ltd will post -0.64 earnings per share 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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