Brightlight Capital Management LP decreased its position in Farfetch Ltd (NYSE:FTCH – Free Report) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,323,600 shares of the company’s stock after selling 237,700 shares during the quarter. Farfetch accounts for about 2.9% of Brightlight Capital Management LP’s investment portfolio, making the stock its 6th largest holding. Brightlight Capital Management LP owned approximately 0.34% of Farfetch worth $6,499,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of FTCH. Contrarius Investment Management Ltd acquired a new stake in Farfetch in the first quarter valued at approximately $33,352,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Farfetch by 10,781.5% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 6,452,700 shares of the company’s stock valued at $31,683,000 after buying an additional 6,393,400 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Farfetch by 42.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 21,277,996 shares of the company’s stock worth $152,350,000 after buying an additional 6,376,075 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in shares of Farfetch by 94.9% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 8,422,602 shares of the company’s stock worth $39,839,000 after buying an additional 4,101,900 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Farfetch in the fourth quarter worth $14,732,000. Institutional investors and hedge funds own 67.35% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Citigroup dropped their price target on shares of Farfetch from $4.30 to $3.00 and set a “sell” rating for the company in a research note on Monday, August 21st. Wells Fargo & Company dropped their price target on shares of Farfetch from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered shares of Farfetch from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $15.00 to $6.00 in a research note on Friday, August 18th. Morgan Stanley cut Farfetch from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $20.00 to $5.00 in a research note on Tuesday, August 29th. Finally, Wedbush reduced their price objective on Farfetch from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.99.
Farfetch Stock Performance
FTCH stock opened at $2.53 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.02 and a current ratio of 1.47. The stock has a market capitalization of $998.92 million, a price-to-earnings ratio of -1.02 and a beta of 3.02. Farfetch Ltd has a 1 year low of $2.49 and a 1 year high of $12.15. The stock’s fifty day moving average is $4.61 and its two-hundred day moving average is $4.75.
Farfetch (NYSE:FTCH – Get Free Report) last issued its quarterly earnings results on Thursday, August 17th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). The business had revenue of $572.09 million for the quarter, compared to analyst estimates of $657.89 million. Farfetch had a negative net margin of 37.83% and a negative return on equity of 75.72%. On average, research analysts predict that Farfetch Ltd will post -1.23 EPS for the current year.
Farfetch Company Profile
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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