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

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

Stitch Fix Stock Performance

Shares of SFIX opened at $4.03 on Friday. The stock’s 50-day moving average price is $3.58 and its two-hundred day moving average price is $4.06. Stitch Fix, Inc. has a 12 month low of $2.95 and a 12 month high of $5.94. The company has a market capitalization of $537.72 million, a PE ratio of -50.38 and a beta of 2.31.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Wednesday, June 10th. The company reported ($0.01) earnings per share 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 company had revenue of $340.28 million during the quarter, compared to analysts’ expectations of $333.51 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that Stitch Fix, Inc. will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Stitch Fix

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in Stitch Fix by 52.1% in the fourth quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock worth $51,000 after acquiring an additional 3,329 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of Stitch Fix by 32.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 14,085 shares of the company’s stock valued at $74,000 after acquiring an additional 3,428 shares in the last quarter. State of Wyoming increased its holdings in shares of Stitch Fix by 31.9% during the fourth quarter. State of Wyoming now owns 16,001 shares of the company’s stock valued at $84,000 after acquiring an additional 3,866 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 purchasing an additional 3,993 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Stitch Fix by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock worth $147,000 after purchasing an additional 4,303 shares during the period. Institutional investors and hedge funds own 71.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SFIX. William Blair restated a “mixed” rating on shares of Stitch Fix in a report on Friday, March 6th. Weiss Ratings lowered shares of Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 12th. Wall Street Zen cut shares of Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Northland Securities assumed 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 boosted their target price on shares of Stitch Fix from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Stitch Fix currently has an average 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.