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

Key Points

• Stitch Fix insider Anthony Bacos sold 70,000 shares on July 13 at an average price of $3.62, totaling about $253,400. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Bacos has been selling shares repeatedly in recent weeks, including multiple transactions in June and early July, all at prices between $3.79 and $4.51. His latest sale reduced his ownership by 6.47%.
• Stitch Fix recently beat earnings expectations, reporting a small profit of $0.01 per share versus estimates for a $0.06 loss, while revenue rose 4.7% year over year to $340.28 million. Analysts currently rate the stock a cautious Hold on average, with a consensus price target of $5.12.

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) insider Anthony Bacos sold 70,000 shares of the firm's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $3.62, for a total transaction of $253,400.00. Following the sale, the insider owned 1,011,994 shares in the company, valued at $3,663,418.28. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Bacos also recently made the following trade(s):

• On Monday, July 6th, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The stock was sold at an average price of $3.79, for a total transaction of $265,300.00.
• On Monday, June 29th, Anthony Bacos sold 70,011 shares of Stitch Fix stock. The stock was sold at an average price of $4.42, for a total value of $309,448.62.
• On Wednesday, June 24th, Anthony Bacos sold 100,000 shares of Stitch Fix stock. The shares were sold at an average price of $4.51, for a total value of $451,000.00.
• On Monday, June 22nd, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The shares were sold at an average price of $4.04, for a total value of $282,800.00.
• On Tuesday, June 16th, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The stock was sold at an average price of $4.15, for a total value of $290,500.00.

Stitch Fix Price Performance

Shares of NASDAQ:SFIX traded up $0.10 during trading on Tuesday, hitting $3.72. 1,163,847 shares of the company's stock were exchanged, compared to its average volume of 2,127,508. The business's 50-day simple moving average is $3.69 and its 200 day simple moving average is $3.92. The company has a market cap of $496.36 million, a price-to-earnings ratio of -46.50 and a beta of 2.26. Stitch Fix, Inc. has a 52-week low of $2.95 and a 52-week high of $5.94.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 10th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $333.51 million. During the same period in the previous year, the firm earned ($0.06) EPS. The firm's revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Stitch Fix, Inc. will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Stitch Fix

Institutional investors and hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Stitch Fix during the 2nd quarter valued at about $48,000. Caerus Investment Advisors LLC purchased a new position in Stitch Fix in the first quarter worth about $36,000. Glenmede Trust Co. NA purchased a new position in Stitch Fix in the first quarter worth about $166,000. Royal Bank of Canada increased its stake in Stitch Fix by 984.1% during the first quarter. Royal Bank of Canada now owns 119,230 shares of the company's stock worth $394,000 after acquiring an additional 108,232 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Stitch Fix by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,418,196 shares of the company's stock worth $8,004,000 after acquiring an additional 142,909 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SFIX shares. 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 assumed coverage on shares of Stitch Fix in a report on Thursday, May 28th. They set an "outperform" rating and a $5.00 price objective for the company. UBS Group raised their price objective on Stitch Fix from $4.00 to $4.50 and gave the company a "neutral" rating in a research report on Thursday, June 11th. Finally, Weiss Ratings downgraded Stitch Fix from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average 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.

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