Stitch Fix (NASDAQ:SFIX) Shares Up 4.9% – Here’s What Happened

Stitch Fix, Inc. (NASDAQ:SFIX)’s share price shot up 4.9% during trading on Tuesday . The company traded as high as $4.25 and last traded at $4.2050. Approximately 350,561 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,123,784 shares. The stock had previously closed at $4.01.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group boosted their price objective on Stitch Fix from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, June 11th. Weiss Ratings lowered shares of Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 12th. Northland Securities started coverage on shares of Stitch Fix in a research report on Thursday, May 28th. They set an “outperform” rating and a $5.00 target price for the company. Telsey Advisory Group lowered their target price on shares of Stitch Fix from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, March 12th. Finally, William Blair reaffirmed a “mixed” rating on shares of Stitch Fix in a research report on Friday, March 6th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.12.

Stitch Fix Trading Up 1.8%

The business has a 50-day moving average of $3.65 and a 200 day moving average of $4.05. The firm has a market capitalization of $588.43 million, a PE ratio of -55.12 and a beta of 2.31.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Wednesday, June 10th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.05. Stitch Fix had a negative net margin of 1.43% and a negative return on equity of 9.35%. The company had revenue of $340.28 million during the quarter, compared to the consensus estimate of $333.51 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Stitch Fix, Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity at Stitch Fix

In related news, insider Casey O’connor sold 60,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3.08, for a total transaction of $184,800.00. Following the completion of the sale, the insider directly owned 480,334 shares of the company’s stock, valued at approximately $1,479,428.72. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Aufderhaar sold 65,709 shares of Stitch Fix stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $3.09, for a total value of $203,040.81. Following the sale, the chief financial officer owned 1,178,037 shares in the company, valued at $3,640,134.33. This trade represents a 5.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 265,709 shares of company stock valued at $961,141. 16.09% of the stock is owned by insiders.

Institutional Trading of Stitch Fix

Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Stitch Fix by 52.1% during the 4th quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock valued at $51,000 after acquiring an additional 3,329 shares during the period. Pallas Capital Advisors LLC raised its holdings in shares of Stitch Fix by 32.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,085 shares of the company’s stock worth $74,000 after purchasing an additional 3,428 shares during the period. State of Wyoming lifted its stake in Stitch Fix by 31.9% in the fourth quarter. State of Wyoming now owns 16,001 shares of the company’s stock valued at $84,000 after purchasing an additional 3,866 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Stitch Fix by 7.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock valued at $199,000 after purchasing an additional 3,993 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Stitch Fix by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock valued at $147,000 after purchasing an additional 4,303 shares during the period. 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.