Fintel reports that Invesco has filed a 13G/A form with the SEC disclosing ownership of 12.40MM shares of Farfetch Ltd (FTCH). This represents 3.7% of the company.
In their previous filing dated February 14, 2022 they reported 20.76MM shares and 6.30% of the company, a decrease in shares of 40.29% and a decrease in total ownership of 2.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 47.47% Upside
As of February 3, 2023, the average one-year price target for Farfetch is $11.10. The forecasts range from a low of $5.39 to a high of $23.10. The average price target represents an increase of 47.47% from its latest reported closing price of $7.53.
The projected annual revenue for Farfetch is $2,793MM, an increase of 18.69%. The projected annual EPS is $-1.05.
Fund Sentiment
There are 405 funds or institutions reporting positions in Farfetch. This is a decrease of 27 owner(s) or 6.25%.
Average portfolio weight of all funds dedicated to US:FTCH is 0.4626%, an increase of 33.7607%. Total shares owned by institutions decreased in the last three months by 1.80% to 352,678K shares.
What are large shareholders doing?
Baillie Gifford & holds 46,960,424 shares representing 12.32% ownership of the company. In it's prior filing, the firm reported owning 46,398,121 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 14,652,820 shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 12,870,020 shares, representing an increase of 12.17%. The firm increased its portfolio allocation in FTCH by 21.75% over the last quarter.
Atreides Management holds 10,912,926 shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 9,733,545 shares, representing an increase of 10.81%. The firm decreased its portfolio allocation in FTCH by 17.46% over the last quarter.
T. Rowe Price Investment Management holds 8,881,246 shares representing 2.33% ownership of the company.
Tremblant Capital Group holds 7,952,022 shares representing 2.09% ownership of the company. In it's prior filing, the firm reported owning 6,375,849 shares, representing an increase of 19.82%. The firm increased its portfolio allocation in FTCH by 30.03% 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 story originally appeared on Fintel.
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