Legal & General Group Plc purchased a new position in Farfetch Ltd (NYSE:FTCH) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 95,000 shares of the company’s stock, valued at approximately $1,680,000.
Other large investors have also modified their holdings of the company. Morgan Stanley purchased a new position in shares of Farfetch in the 3rd quarter worth about $86,369,000. JPMorgan Chase & Co. purchased a new stake in shares of Farfetch during the 3rd quarter valued at about $14,835,000. Parkwood LLC purchased a new stake in shares of Farfetch during the 4th quarter valued at about $231,000. Global Thematic Partners LLC purchased a new stake in shares of Farfetch during the 4th quarter valued at about $21,275,000. Finally, BlackRock Inc. purchased a new stake in shares of Farfetch during the 3rd quarter valued at about $42,733,000. 42.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FTCH opened at $23.79 on Friday. Farfetch Ltd has a fifty-two week low of $15.98 and a fifty-two week high of $32.40.
Farfetch (NYSE:FTCH) last issued its quarterly earnings data on Thursday, February 28th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. The business had revenue of $195.53 million for the quarter, compared to analyst estimates of $180.44 million. On average, analysts anticipate that Farfetch Ltd will post -0.64 earnings per share for the current fiscal year.
Several equities research analysts recently commented on FTCH shares. Zacks Investment Research upgraded Farfetch from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Goldman Sachs Group upgraded Farfetch from a “neutral” rating to a “buy” rating in a report on Friday, March 1st. Citigroup started coverage on Farfetch in a report on Monday, March 11th. They set an “outperform” rating and a $34.00 target price on the stock. Oppenheimer started coverage on Farfetch in a report on Monday, March 11th. They set an “outperform” rating and a $34.00 target price on the stock. Finally, Sanford C. Bernstein started coverage on Farfetch in a report on Tuesday, April 16th. They set an “underperform” rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Farfetch has a consensus rating of “Buy” and a consensus price target of $28.00.
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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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