LA Financiere DE L Echiquier Trims Stock Position in Farfetch Ltd (NYSE:FTCH)

LA Financiere DE L Echiquier lessened its holdings in Farfetch Ltd (NYSE:FTCHGet Rating) by 33.2% during the 1st quarter, Holdings Channel reports. The firm owned 151,000 shares of the company’s stock after selling 75,154 shares during the quarter. LA Financiere DE L Echiquier’s holdings in Farfetch were worth $2,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in Farfetch by 1,576.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,313,251 shares of the company’s stock worth $110,762,000 after purchasing an additional 3,115,625 shares during the period. Capital World Investors increased its position in shares of Farfetch by 134.4% in the fourth quarter. Capital World Investors now owns 4,588,809 shares of the company’s stock worth $153,404,000 after acquiring an additional 2,631,408 shares in the last quarter. Lone Pine Capital LLC grew its holdings in Farfetch by 6.5% during the 4th quarter. Lone Pine Capital LLC now owns 24,439,933 shares of the company’s stock valued at $817,027,000 after purchasing an additional 1,494,801 shares in the last quarter. Invesco Ltd. grew its holdings in Farfetch by 5.8% during the 4th quarter. Invesco Ltd. now owns 20,763,328 shares of the company’s stock valued at $694,118,000 after purchasing an additional 1,136,669 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Farfetch by 930.6% during the 4th quarter. New York State Common Retirement Fund now owns 869,889 shares of the company’s stock valued at $29,080,000 after purchasing an additional 785,482 shares in the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.

Analyst Upgrades and Downgrades

FTCH has been the topic of a number of research analyst reports. Wedbush reduced their price objective on shares of Farfetch from $16.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, May 27th. Credit Suisse Group cut their price objective on shares of Farfetch from $47.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 25th. Cowen cut their price objective on shares of Farfetch from $30.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, June 6th. KeyCorp began coverage on shares of Farfetch in a research report on Wednesday, July 20th. They issued an “overweight” rating and a $11.00 price objective on the stock. Finally, Guggenheim cut their price objective on shares of Farfetch from $42.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.71.

Farfetch Price Performance

Shares of FTCH traded down $0.45 during mid-day trading on Thursday, hitting $7.71. The company’s stock had a trading volume of 360,812 shares, compared to its average volume of 8,901,229. The firm has a 50-day moving average price of $8.05 and a 200 day moving average price of $13.28. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -6.46 and a beta of 3.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.05 and a quick ratio of 1.71. Farfetch Ltd has a fifty-two week low of $6.52 and a fifty-two week high of $51.53.

Farfetch (NYSE:FTCHGet Rating) last announced its quarterly earnings data on Thursday, May 26th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $514.80 million during the quarter, compared to analyst estimates of $560.27 million. Farfetch had a return on equity of 1,826.57% and a net margin of 73.70%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.28) EPS. On average, research analysts predict that Farfetch Ltd will post -1.16 EPS for the current fiscal year.

Farfetch Company Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding FTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Farfetch Ltd (NYSE:FTCHGet Rating).

Institutional Ownership by Quarter for Farfetch (NYSE:FTCH)

Receive News & Ratings for Farfetch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farfetch and related companies with MarketBeat.com's FREE daily email newsletter.