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

Stitch Fix, Inc. (NASDAQ:SFIX) insider Anthony Bacos sold 70,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $4.15, for a total transaction of $290,500.00. Following the completion of the transaction, the insider owned 1,085,109 shares in the company, valued at approximately $4,503,202.35. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Stitch Fix Trading Up 4.8%

Shares of SFIX stock traded up $0.18 during trading hours on Thursday, hitting $4.03. 1,992,556 shares of the company were exchanged, compared to its average volume of 2,118,332. The firm has a fifty day simple moving average of $3.55 and a 200 day simple moving average of $4.06. Stitch Fix, Inc. has a 52-week low of $2.95 and a 52-week high of $5.94. The stock has a market capitalization of $549.49 million, a price-to-earnings ratio of -50.19 and a beta of 2.31.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data 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 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 the consensus estimate of $333.51 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Stitch Fix’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Stitch Fix, Inc. will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 worth $199,000 after buying an additional 3,993 shares in the last quarter. Creative Planning purchased a new position in Stitch Fix during the second quarter valued at approximately $46,000. Rhumbline Advisers grew its stake in Stitch Fix by 8.4% during the second quarter. Rhumbline Advisers now owns 158,130 shares of the company’s stock valued at $585,000 after acquiring an additional 12,190 shares in the last quarter. American Century Companies Inc. increased its holdings in Stitch Fix by 5.5% during the 2nd quarter. American Century Companies Inc. now owns 222,670 shares of the company’s stock worth $824,000 after acquiring an additional 11,611 shares during the period. Finally, Norges Bank bought a new stake in Stitch Fix during the 2nd quarter worth approximately $189,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Analyst Ratings Changes

SFIX has been the subject of several recent research reports. UBS Group lifted their target price on shares of Stitch Fix from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Telsey Advisory Group dropped their price target 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. Wall Street Zen downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Northland Securities started coverage on shares of Stitch Fix in a research note on Thursday, May 28th. They issued an “outperform” rating and a $5.00 price objective for the company. Finally, Weiss Ratings cut shares of Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.