Maverick Capital Ltd. Takes Position in Farfetch Ltd (NYSE:FTCH)

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Maverick Capital Ltd. bought a new stake in Farfetch Ltd (NYSE:FTCH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 184,099 shares of the company’s stock, valued at approximately $1,591,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its stake in Farfetch by 139.8% during the second quarter. Morgan Stanley now owns 32,155,141 shares of the company’s stock worth $668,828,000 after buying an additional 18,744,626 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Farfetch by 47.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 24,656,061 shares of the company’s stock valued at $512,846,000 after purchasing an additional 7,886,096 shares during the period. Invesco Ltd. purchased a new position in shares of Farfetch in the second quarter valued at approximately $128,360,000. Nuveen Asset Management LLC purchased a new position in shares of Farfetch in the second quarter valued at approximately $94,234,000. Finally, Cadian Capital Management LP boosted its stake in shares of Farfetch by 127.3% in the second quarter. Cadian Capital Management LP now owns 2,500,000 shares of the company’s stock valued at $52,000,000 after purchasing an additional 1,400,000 shares during the period. Institutional investors and hedge funds own 63.71% of the company’s stock.

Shares of Farfetch stock opened at $9.96 on Monday. Farfetch Ltd has a 52-week low of $7.43 and a 52-week high of $31.60. The company has a 50 day moving average of $8.74 and a 200 day moving average of $14.41. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $2.99 billion, a P/E ratio of -16.88 and a beta of 2.59.

Farfetch (NYSE:FTCH) last issued its quarterly earnings results on Thursday, November 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09. Farfetch had a negative net margin of 35.84% and a negative return on equity of 25.14%. The company had revenue of $255.50 million during the quarter, compared to the consensus estimate of $248.31 million. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The firm’s quarterly revenue was up 93.3% on a year-over-year basis. As a group, research analysts anticipate that Farfetch Ltd will post -1.14 earnings per share for the current fiscal year.

Several research analysts have recently commented on FTCH shares. Cowen lowered their price objective on shares of Farfetch from $33.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, August 9th. ValuEngine upgraded shares of Farfetch from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. China Renaissance Securities reiterated a “hold” rating on shares of Farfetch in a research note on Friday, August 9th. Wells Fargo & Co set a $17.00 price target on shares of Farfetch and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America decreased their price target on shares of Farfetch from $33.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $22.14.

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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Institutional Ownership by Quarter for Farfetch (NYSE:FTCH)

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