On February 28, 2023 at 09:47:22 (ET) an unusually large $174.08K block of Call contracts in Farfetch (FTCH) was sold, with a strike price of $5.00 / share, expiring in 325 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 2.75 sigmas above the mean, placing it in the 99.58 percentile of all recent large trades made in FTCH options.
Analyst Price Forecast Suggests 99.31% Upside
As of February 28, 2023, the average one-year price target for Farfetch is $10.54. The forecasts range from a low of $5.39 to a high of $21.00. The average price target represents an increase of 99.31% from its latest reported closing price of $5.29.
The projected annual revenue for Farfetch is $2,793MM, an increase of 20.56%. The projected annual EPS is -$1.05.
What is the Fund Sentiment?
There are 402 funds or institutions reporting positions in Farfetch. This is a decrease of 7 owner(s) or 1.71% in the last quarter. Average portfolio weight of all funds dedicated to FTCH is 0.29%, a decrease of 35.59%. Total shares owned by institutions decreased in the last three months by 10.84% to 311,065K shares. The put/call ratio of FTCH is 0.62, indicating a bullish outlook.
What are large shareholders doing?
Baillie Gifford & holds 46,960K shares representing 12.32% ownership of the company. In it’s prior filing, the firm reported owning 46,398K shares, representing an increase of 1.20%. The firm decreased its portfolio allocation in FTCH by 35.05% over the last quarter.
Dragoneer Investment Group holds 15,524K shares representing 4.07% ownership of the company. In it’s prior filing, the firm reported owning 14,653K shares, representing an increase of 5.61%. The firm decreased its portfolio allocation in FTCH by 20.81% over the last quarter.
Invesco holds 12,397K shares representing 3.25% ownership of the company. In it’s prior filing, the firm reported owning 25,341K shares, representing a decrease of 104.42%. The firm decreased its portfolio allocation in FTCH by 71.74% over the last quarter.
T. Rowe Price Investment Management holds 10,441K shares representing 2.74% ownership of the company. In it’s prior filing, the firm reported owning 8,881K shares, representing an increase of 14.94%. The firm decreased its portfolio allocation in FTCH by 28.31% over the last quarter.
ArrowMark Colorado Holdings holds 8,423K shares representing 2.21% ownership of the company. In it’s prior filing, the firm reported owning 4,321K shares, representing an increase of 48.70%. The firm increased its portfolio allocation in FTCH by 20.46% over the last quarter.
Farfetch Background Information
(This description is provided by the company.)
Farfetch Limited is the leading global platform for the luxury fashion industry. Founded in 2007 by José Neves for the love of fashion, and launched in 2008, Farfetch began as an e-commerce marketplace for luxury boutiques around the world. Today the Farfetch Marketplace connects customers in over 190 countries with items from more than 50 countries and over 1,300 of the world’s best brands, boutiques and department stores, delivering a truly unique shopping experience and access to the most extensive selection of luxury on a single platform. Farfetch’s additional businesses include Farfetch Platform Solutions, which services enterprise clients with e-commerce and technology capabilities; Browns and Stadium Goods, which offer luxury products to consumers; and New Guards Group, a platform for the development of global fashion brands. Farfetch also invests in innovations such as its Store of the Future augmented retail solution, and develops key technologies, business solutions, and services for the luxury fashion industry.
This article originally appeared on Fintel
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