Stitch Fix (NASDAQ:SFIX) Insider Sells $451,000.00 in Stock

Stitch Fix, Inc. (NASDAQ:SFIX) insider Anthony Bacos sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $4.51, for a total value of $451,000.00. Following the sale, the insider directly owned 1,071,994 shares of the company’s stock, valued at approximately $4,834,692.94. This represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Bacos also recently made the following trade(s):

• On Monday, June 22nd, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The stock was sold at an average price of $4.04, for a total value of $282,800.00.
• On Tuesday, June 16th, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The shares were sold at an average price of $4.15, for a total value of $290,500.00.

Stitch Fix Price Performance

Shares of NASDAQ:SFIX traded up $0.24 during trading on Friday, reaching $4.54. The company had a trading volume of 6,018,546 shares, compared to its average volume of 2,176,187. Stitch Fix, Inc. has a fifty-two week low of $2.95 and a fifty-two week high of $5.94. The stock’s fifty day moving average price is $3.67 and its 200 day moving average price is $4.04. The firm has a market capitalization of $605.75 million, a price-to-earnings ratio of -56.75 and a beta of 2.31.

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

Hedge Funds Weigh In On Stitch Fix

A number of large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in shares of Stitch Fix by 52.1% in the fourth quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock valued at $51,000 after purchasing an additional 3,329 shares during the period. Pallas Capital Advisors LLC grew its position in Stitch Fix by 32.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 14,085 shares of the company’s stock worth $74,000 after buying an additional 3,428 shares during the period. State of Wyoming grew its position in Stitch Fix by 31.9% during the fourth quarter. State of Wyoming now owns 16,001 shares of the company’s stock worth $84,000 after buying an additional 3,866 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 buying an additional 3,993 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Stitch Fix by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock valued at $147,000 after buying an additional 4,303 shares in the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Analysts Set New Price Targets

SFIX has been the topic of several analyst reports. UBS Group lifted their target price on shares of Stitch Fix from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, June 11th. Weiss Ratings cut shares of Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 12th. Telsey Advisory Group reduced their price objective on shares of Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, March 12th. William Blair reaffirmed a “mixed” rating on shares of Stitch Fix in a report on Friday, March 6th. Finally, Wall Street Zen cut Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.12.

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.