Stitch Fix (NASDAQ:SFIX) Insider Anthony Bacos Sells 70,000 Shares of Stock

Stitch Fix, Inc. (NASDAQ:SFIX) insider Anthony Bacos sold 70,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $3.79, for a total transaction of $265,300.00. Following the completion of the sale, the insider directly owned 1,031,994 shares of the company’s stock, valued at approximately $3,911,257.26. The trade was a 6.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 29th, Anthony Bacos sold 70,011 shares of Stitch Fix stock. The shares were sold at an average price of $4.42, for a total value of $309,448.62.
• On Wednesday, June 24th, Anthony Bacos sold 100,000 shares of Stitch Fix stock. The stock was sold at an average price of $4.51, for a total value of $451,000.00.
• 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 stock was sold at an average price of $4.15, for a total value of $290,500.00.

Stitch Fix Stock Down 4.6%

SFIX traded down $0.17 during trading hours on Wednesday, reaching $3.55. 1,327,276 shares of the company’s stock traded hands, compared to its average volume of 2,156,536. The firm has a 50-day moving average price of $3.70 and a 200 day moving average price of $3.97. Stitch Fix, Inc. has a 52-week low of $2.95 and a 52-week high of $5.94. The firm has a market capitalization of $473.68 million, a PE ratio of -44.38 and a beta of 2.26.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Wednesday, June 10th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $340.28 million for the quarter, compared to analyst estimates of $333.51 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Stitch Fix, Inc. will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Stitch Fix

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Caerus Investment Advisors LLC bought a new stake in shares of Stitch Fix in the first quarter valued at about $36,000. Glenmede Trust Co. NA bought a new position in Stitch Fix during the 1st quarter worth about $166,000. Royal Bank of Canada grew its holdings in Stitch Fix by 984.1% during the 1st quarter. Royal Bank of Canada now owns 119,230 shares of the company’s stock worth $394,000 after acquiring an additional 108,232 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Stitch Fix by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,418,196 shares of the company’s stock valued at $8,004,000 after purchasing an additional 142,909 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new position in Stitch Fix during the 1st quarter valued at about $47,000. Institutional investors own 71.04% of the company’s stock.

Analyst Upgrades and Downgrades

SFIX has been the topic of several recent analyst reports. Northland Securities assumed coverage on shares of Stitch Fix in a research note on Thursday, May 28th. They issued an “outperform” rating and a $5.00 price target on the stock. Telsey Advisory Group dropped 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 research note on Thursday, March 12th. Weiss Ratings downgraded shares of Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 12th. UBS Group raised their target price on shares of Stitch Fix from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Finally, Wall Street Zen downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One equities 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.12.

About Stitch Fix

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.