Farfetch Ltd (NYSE:FTCH) saw some unusual options trading activity on Wednesday. Investors purchased 14,227 call options on the company. This represents an increase of 3,396% compared to the typical daily volume of 407 call options.
Large investors have recently modified their holdings of the stock. Barclays PLC grew its holdings in Farfetch by 163.6% during the 4th quarter. Barclays PLC now owns 5,800 shares of the company’s stock valued at $103,000 after purchasing an additional 3,600 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Farfetch in the 4th quarter valued at about $135,000. FNY Investment Advisers LLC purchased a new stake in Farfetch in the 1st quarter valued at about $228,000. Shikiar Asset Management Inc. purchased a new stake in Farfetch in the 1st quarter valued at about $242,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Farfetch in the 1st quarter valued at about $255,000. Institutional investors own 42.67% of the company’s stock.
NYSE:FTCH traded down $2.70 during mid-day trading on Thursday, hitting $22.63. 584,710 shares of the stock traded hands, compared to its average volume of 1,828,756. The company has a market capitalization of $6.90 billion and a price-to-earnings ratio of -38.39. Farfetch has a 52 week low of $15.98 and a 52 week high of $32.40.
A number of analysts have issued reports on FTCH shares. Zacks Investment Research downgraded shares of Farfetch from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Credit Suisse Group boosted their target price on shares of Farfetch from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday. Goldman Sachs Group upgraded shares of Farfetch from a “neutral” rating to a “buy” rating in a report on Friday, March 1st. Citigroup started coverage on shares of Farfetch in a report on Monday, March 11th. They issued an “outperform” rating and a $34.00 target price on the stock. Finally, Oppenheimer started coverage on shares of Farfetch in a report on Monday, March 11th. They issued an “outperform” rating and a $34.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Farfetch presently has an average rating of “Buy” and an average price target of $28.20.
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.
Read More: Penny Stocks, Risk and Reward Factors
Receive News & Ratings for Farfetch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farfetch and related companies with MarketBeat.com's FREE daily email newsletter.