Commonwealth Equity Services LLC Sells 1,248 Shares of Farfetch Ltd (NYSE:FTCH)

Commonwealth Equity Services LLC decreased its stake in shares of Farfetch Ltd (NYSE:FTCH) by 18.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,470 shares of the company’s stock after selling 1,248 shares during the period. Commonwealth Equity Services LLC’s holdings in Farfetch were worth $290,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Morgan Stanley increased its position in shares of Farfetch by 52.5% during the fourth quarter. Morgan Stanley now owns 39,925,206 shares of the company’s stock worth $2,547,628,000 after acquiring an additional 13,737,367 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Farfetch by 352.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,483,141 shares of the company’s stock worth $1,626,079,000 after purchasing an additional 19,850,348 shares during the last quarter. Jennison Associates LLC acquired a new position in Farfetch during the fourth quarter worth $873,875,000. Lone Pine Capital LLC acquired a new position in Farfetch during the fourth quarter worth $514,600,000. Finally, BlackRock Inc. boosted its holdings in Farfetch by 8.3% during the fourth quarter. BlackRock Inc. now owns 7,166,519 shares of the company’s stock worth $457,295,000 after purchasing an additional 551,468 shares during the last quarter. 83.23% of the stock is owned by institutional investors.

NYSE FTCH opened at $46.55 on Friday. The business’s 50-day moving average is $46.39. The company has a current ratio of 2.71, a quick ratio of 2.44 and a debt-to-equity ratio of 1.05. The firm has a market cap of $16.49 billion, a PE ratio of -4.81 and a beta of 3.31. Farfetch Ltd has a 52-week low of $14.07 and a 52-week high of $73.87.

Farfetch (NYSE:FTCH) last posted its earnings results on Thursday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.26. The company had revenue of $485.08 million during the quarter, compared to analysts’ expectations of $454.79 million. Farfetch had a negative net margin of 150.27% and a negative return on equity of 1,281.44%. Farfetch’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.24) EPS. On average, equities analysts anticipate that Farfetch Ltd will post -1.44 EPS for the current fiscal year.

Several research analysts recently commented on the stock. Credit Suisse Group increased their target price on shares of Farfetch from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, May 14th. Zacks Investment Research upgraded shares of Farfetch from a “sell” rating to a “hold” rating in a report on Friday, May 14th. Finally, Oppenheimer reduced their target price on shares of Farfetch from $65.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Farfetch presently has an average rating of “Buy” and an average target price of $57.00.

About Farfetch

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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