US Bancorp DE Boosts Stock Position in Farfetch Ltd (NYSE:FTCH)

US Bancorp DE increased its holdings in Farfetch Ltd (NYSE:FTCH – Get Rating) by 13.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,242 shares of the company’s stock after purchasing an additional 4,879 shares during the quarter. US Bancorp DE’s holdings in Farfetch were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Baillie Gifford & Co. increased its position in Farfetch by 33.2% during the 3rd quarter. Baillie Gifford & Co. now owns 46,398,121 shares of the company’s stock valued at $345,666,000 after purchasing an additional 11,570,054 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Farfetch by 42.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 21,277,996 shares of the company’s stock valued at $152,350,000 after buying an additional 6,376,075 shares during the period. Franklin Resources Inc. raised its stake in Farfetch by 27.0% in the second quarter. Franklin Resources Inc. now owns 8,352,480 shares of the company’s stock worth $59,804,000 after buying an additional 1,773,473 shares in the last quarter. Bares Capital Management Inc. raised its stake in Farfetch by 129.6% in the second quarter. Bares Capital Management Inc. now owns 7,305,896 shares of the company’s stock worth $52,310,000 after buying an additional 4,123,600 shares in the last quarter. Finally, Coronation Fund Managers Ltd. lifted its holdings in Farfetch by 86.8% in the third quarter. Coronation Fund Managers Ltd. now owns 2,984,412 shares of the company’s stock worth $22,234,000 after buying an additional 1,386,960 shares during the period. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FTCH. Morgan Stanley decreased their target price on Farfetch from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, January 18th. Cowen lowered their price objective on Farfetch from $11.00 to $8.00 in a research report on Monday, December 5th. Societe Generale dropped their target price on shares of Farfetch from $12.00 to $11.00 in a report on Monday, November 21st. Credit Suisse Group decreased their price target on shares of Farfetch from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, November 16th. Finally, Oppenheimer dropped their price objective on shares of Farfetch from $14.00 to $7.00 in a research note on Thursday, December 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Farfetch has an average rating of “Moderate Buy” and an average target price of $13.19.

Farfetch Stock Down 5.0 %

Farfetch stock opened at $6.14 on Wednesday. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -3.39 and a beta of 2.86. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 0.61. Farfetch Ltd has a 12 month low of $3.64 and a 12 month high of $23.33. The stock has a fifty day simple moving average of $5.63 and a two-hundred day simple moving average of $7.63.

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

Farfetch 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.