Plato Investment Management Ltd Sells 7,779 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Plato Investment Management Ltd lessened its stake in Stitch Fix, Inc. (NASDAQ:SFIX) by 28.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,595 shares of the company’s stock after selling 7,779 shares during the period. Plato Investment Management Ltd’s holdings in Stitch Fix were worth $55,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stitch Fix by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,451 shares of the company’s stock worth $223,000 after buying an additional 5,404 shares during the period. Creative Planning raised its holdings in shares of Stitch Fix by 32.1% in the third quarter. Creative Planning now owns 25,477 shares of the company’s stock valued at $72,000 after acquiring an additional 6,194 shares in the last quarter. Federated Hermes Inc. lifted its stake in Stitch Fix by 7.7% in the second quarter. Federated Hermes Inc. now owns 94,624 shares of the company’s stock worth $393,000 after acquiring an additional 6,739 shares during the period. CWM LLC grew its holdings in Stitch Fix by 132.5% during the 2nd quarter. CWM LLC now owns 11,867 shares of the company’s stock worth $49,000 after acquiring an additional 6,762 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Stitch Fix by 92.3% during the 2nd quarter. SG Americas Securities LLC now owns 19,780 shares of the company’s stock valued at $82,000 after purchasing an additional 9,494 shares during the period. Institutional investors own 71.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SFIX shares. UBS Group lowered their price target on shares of Stitch Fix from $3.80 to $2.80 and set a “neutral” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group lowered their target price on Stitch Fix from $4.50 to $3.50 and set a “hold” rating for the company in a report on Wednesday, September 25th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price target on shares of Stitch Fix in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.27.

Stitch Fix Price Performance

Shares of NASDAQ:SFIX opened at $3.60 on Friday. The business’s 50-day moving average is $3.25 and its 200 day moving average is $3.41. Stitch Fix, Inc. has a 1 year low of $2.06 and a 1 year high of $5.05. The firm has a market capitalization of $456.62 million, a P/E ratio of -3.33 and a beta of 1.87.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Tuesday, September 24th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.07. The firm had revenue of $319.55 million for the quarter, compared to the consensus estimate of $317.48 million. Stitch Fix had a negative net margin of 9.63% and a negative return on equity of 40.62%. On average, analysts expect that Stitch Fix, Inc. will post -0.61 EPS for the current year.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.