Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Decreases Stock Holdings in Farfetch Ltd (NYSE:FTCH)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its holdings in shares of Farfetch Ltd (NYSE:FTCHGet Rating) by 21.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,000 shares of the company’s stock after selling 61,500 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.06% of Farfetch worth $1,714,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new stake in Farfetch during the second quarter valued at $32,000. Asset Management One Co. Ltd. raised its stake in Farfetch by 61.8% during the second quarter. Asset Management One Co. Ltd. now owns 5,107 shares of the company’s stock valued at $36,000 after purchasing an additional 1,951 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Farfetch by 15.2% in the second quarter. Stephens Inc. AR now owns 8,827 shares of the company’s stock valued at $63,000 after acquiring an additional 1,167 shares during the period. Captrust Financial Advisors raised its stake in shares of Farfetch by 31.8% in the first quarter. Captrust Financial Advisors now owns 4,993 shares of the company’s stock valued at $75,000 after acquiring an additional 1,204 shares during the period. Finally, YorkBridge Wealth Partners LLC raised its stake in shares of Farfetch by 27.4% in the third quarter. YorkBridge Wealth Partners LLC now owns 15,244 shares of the company’s stock valued at $114,000 after acquiring an additional 3,283 shares during the period. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Wall Street Analyst Weigh In

FTCH has been the topic of several recent analyst reports. Credit Suisse Group reduced their target price on shares of Farfetch from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 16th. Citigroup initiated coverage on shares of Farfetch in a research note on Monday, September 26th. They issued a “sell” rating and a $6.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of Farfetch from $25.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, December 2nd. Societe Generale reduced their target price on shares of Farfetch from $12.00 to $11.00 in a research note on Monday, November 21st. Finally, Wedbush reduced their target price on shares of Farfetch from $8.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, December 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.19.

Farfetch Stock Up 6.3 %

Shares of Farfetch stock opened at $6.29 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.44 and a quick ratio of 1.09. Farfetch Ltd has a 1 year low of $3.64 and a 1 year high of $23.33. The firm’s 50-day moving average is $5.77 and its two-hundred day moving average is $7.65. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -3.48 and a beta of 2.86.

Farfetch (NYSE:FTCHGet Rating) last issued its earnings results on Thursday, November 17th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.16). Farfetch had a return on equity of 58.40% and a net margin of 26.67%. The business had revenue of $593.36 million for the quarter, compared to the consensus estimate of $610.27 million. As a group, research analysts expect that Farfetch Ltd will post -1.55 earnings per share for the current fiscal year.

Farfetch Company Profile

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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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Institutional Ownership by Quarter for Farfetch (NYSE:FTCH)

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