Stitch Fix (NASDAQ:SFIX) Shares Gap Down – Time to Sell?

Stitch Fix, Inc. (NASDAQ:SFIX)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.93, but opened at $4.72. Stitch Fix shares last traded at $4.50, with a volume of 395,278 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. UBS Group upped their price objective on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Telsey Advisory Group boosted their price target on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.96.

Stitch Fix Stock Down 10.5 %

The business’s 50 day moving average is $4.22 and its 200 day moving average is $3.84. The company has a market cap of $559.36 million, a P/E ratio of -5.31 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $318.82 million for the quarter, compared to the consensus estimate of $306.88 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) EPS. As a group, equities research analysts forecast that Stitch Fix, Inc. will post -0.46 EPS for the current year.

Insider Buying and Selling at Stitch Fix

In other news, insider Anthony Bacos sold 16,720 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $4.61, for a total transaction of $77,079.20. Following the completion of the transaction, the insider now directly owns 913,962 shares of the company’s stock, valued at $4,213,364.82. This represents a 1.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Katrina Lake sold 725,002 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total transaction of $4,190,511.56. The disclosure for this sale can be found here. Company insiders own 16.95% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

Several large investors have recently bought and sold shares of SFIX. Disciplined Growth Investors Inc. MN grew its holdings in shares of Stitch Fix by 48.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after buying an additional 4,460,668 shares in the last quarter. Renaissance Technologies LLC grew its stake in Stitch Fix by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after acquiring an additional 465,900 shares in the last quarter. Hodges Capital Management Inc. grew its stake in Stitch Fix by 34.4% during the 3rd quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock valued at $9,518,000 after acquiring an additional 864,100 shares in the last quarter. Geode Capital Management LLC lifted its stake in Stitch Fix by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company’s stock worth $6,473,000 after purchasing an additional 83,220 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Stitch Fix in the 3rd quarter worth approximately $2,862,000. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

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.