Stitch Fix (NASDAQ:SFIX) Insider Sells 70,000 Shares

Stitch Fix, Inc. (NASDAQ:SFIX) insider Anthony Bacos sold 70,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $4.15, for a total value of $290,500.00. Following the sale, the insider owned 1,085,109 shares in the company, valued at approximately $4,503,202.35. The trade was a 6.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Stitch Fix Trading Up 4.8%

SFIX stock traded up $0.18 during mid-day trading on Thursday, reaching $4.03. The company’s stock had a trading volume of 1,992,556 shares, compared to its average volume of 2,118,332. The company has a market cap of $549.49 million, a price-to-earnings ratio of -50.19 and a beta of 2.31. The business’s 50 day moving average price is $3.55 and its 200 day moving average price is $4.06. Stitch Fix, Inc. has a 12 month low of $2.95 and a 12 month high of $5.94.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Wednesday, June 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. The firm had revenue of $340.28 million for the quarter, compared to analysts’ expectations of $333.51 million. Stitch Fix had a negative return on equity of 9.35% and a negative net margin of 1.43%.The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) EPS. As a group, equities analysts expect that Stitch Fix, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SFIX has been the subject of a number of research reports. Northland Securities began coverage on shares of Stitch Fix in a report on Thursday, May 28th. They issued an “outperform” rating and a $5.00 price target for the company. Weiss Ratings cut shares of Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 12th. UBS Group increased their price target on Stitch Fix from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, June 11th. William Blair restated a “mixed” rating on shares of Stitch Fix in a research note on Friday, March 6th. Finally, Wall Street Zen downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SFIX. Working Capital Advisors UK Ltd. grew its stake in Stitch Fix by 15.9% in the 3rd quarter. Working Capital Advisors UK Ltd. now owns 11,046,077 shares of the company’s stock valued at $48,050,000 after purchasing an additional 1,512,475 shares during the period. Vanguard Group Inc. raised its stake in shares of Stitch Fix by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,682,725 shares of the company’s stock worth $33,420,000 after purchasing an additional 240,584 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Stitch Fix by 73.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,664,995 shares of the company’s stock worth $19,241,000 after buying an additional 1,549,902 shares during the last quarter. State Street Corp boosted its holdings in shares of Stitch Fix by 18.6% in the 4th quarter. State Street Corp now owns 3,239,044 shares of the company’s stock worth $17,005,000 after buying an additional 508,588 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Stitch Fix by 302.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,897,171 shares of the company’s stock valued at $12,603,000 after buying an additional 2,178,156 shares during the period. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.