Shares of Stitch Fix, Inc. (NASDAQ:SFIX – Get Free Report) fell 4.9% during mid-day trading on Tuesday . The stock traded as low as $3.82 and last traded at $3.7750. 185,739 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 2,029,506 shares. The stock had previously closed at $3.97.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Wall Street Zen downgraded Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings raised shares of Stitch Fix from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Northland Securities started coverage on shares of Stitch Fix in a research note on Thursday, May 28th. They set an “outperform” rating and a $5.00 target price for the company. Finally, UBS Group increased 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. One investment 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.12.
View Our Latest Stock Report on SFIX
Stitch Fix Trading Down 5.1%
Stitch Fix (NASDAQ:SFIX – Get Free Report) last posted its quarterly earnings data on Wednesday, June 10th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. The firm had revenue of $340.28 million during the quarter, compared to analysts’ expectations of $333.51 million. Stitch Fix had a negative return on equity of 9.35% and a negative net margin of 1.43%.The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. As a group, equities research analysts anticipate that Stitch Fix, Inc. will post -0.14 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Stitch Fix news, CFO David Aufderhaar sold 67,960 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $3.79, for a total transaction of $257,568.40. Following the sale, the chief financial officer directly owned 1,102,369 shares of the company’s stock, valued at approximately $4,177,978.51. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Anthony Bacos sold 70,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $4.09, for a total value of $286,300.00. Following the completion of the sale, the insider directly owned 951,994 shares in the company, valued at $3,893,655.46. This represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 727,971 shares of company stock valued at $2,924,817. Insiders own 16.09% of the company’s stock.
Institutional Trading of Stitch Fix
Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Stitch Fix by 7.0% during 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 acquired a new position in shares of Stitch Fix in the 2nd quarter valued at $46,000. Rhumbline Advisers raised its stake in shares of Stitch Fix by 8.4% in the 2nd quarter. Rhumbline Advisers now owns 158,130 shares of the company’s stock valued at $585,000 after buying an additional 12,190 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 position in shares of Stitch Fix during the 2nd quarter worth about $189,000. 71.04% of the stock is owned by institutional investors.
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.
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