Farfetch’s (NYSE:FTCH) lock-up period is set to expire on Wednesday, March 20th. Farfetch had issued 44,243,749 shares in its IPO on September 21st. The total size of the offering was $884,874,980 based on an initial share price of $20.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
A number of equities analysts have recently commented on FTCH shares. ValuEngine downgraded Farfetch from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Zacks Investment Research downgraded Farfetch from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Goldman Sachs Group raised Farfetch from a “neutral” rating to a “buy” rating in a research report on Friday, March 1st. Citigroup started coverage on Farfetch in a research report on Monday. They set an “outperform” rating and a $34.00 price objective for the company. Finally, Oppenheimer started coverage on Farfetch in a research report on Monday. They set an “outperform” rating and a $34.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Farfetch presently has a consensus rating of “Buy” and a consensus price target of $28.56.
Shares of Farfetch stock opened at $26.97 on Wednesday. Farfetch has a one year low of $15.98 and a one year high of $32.40. The stock has a market cap of $8.08 billion and a PE ratio of -45.71.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Investors Inc. PA acquired a new position in Farfetch in the third quarter valued at approximately $82,000. Blueport Capital L.P. acquired a new position in Farfetch in the third quarter valued at approximately $120,000. Barclays PLC boosted its holdings in Farfetch by 163.6% in the fourth quarter. Barclays PLC now owns 5,800 shares of the company’s stock valued at $103,000 after purchasing an additional 3,600 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in Farfetch in the fourth quarter valued at approximately $135,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Farfetch in the third quarter valued at approximately $238,000. 34.32% of the stock is owned by hedge funds and other institutional investors.
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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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