Balyasny Asset Management L.P. Buys 91,127 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Balyasny Asset Management L.P. lifted its holdings in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 240.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,073 shares of the company's stock after acquiring an additional 91,127 shares during the period. Balyasny Asset Management L.P. owned approximately 0.10% of Stitch Fix worth $556,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Stitch Fix by 1.5% in the 4th quarter. Rhumbline Advisers now owns 149,625 shares of the company's stock valued at $645,000 after purchasing an additional 2,255 shares in the last quarter. Corebridge Financial Inc. boosted its holdings in Stitch Fix by 4.8% in the fourth quarter. Corebridge Financial Inc. now owns 50,355 shares of the company's stock worth $217,000 after purchasing an additional 2,295 shares during the period. Federated Hermes Inc. raised its holdings in shares of Stitch Fix by 4.1% during the fourth quarter. Federated Hermes Inc. now owns 96,504 shares of the company's stock worth $416,000 after purchasing an additional 3,771 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Stitch Fix in the 4th quarter worth about $29,000. Finally, Cerity Partners LLC boosted its holdings in shares of Stitch Fix by 31.1% in the 4th quarter. Cerity Partners LLC now owns 29,452 shares of the company's stock valued at $124,000 after buying an additional 6,993 shares during the period. 71.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reiterated a "market perform" rating and set a $6.00 price target on shares of Stitch Fix in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.50.

Stitch Fix Stock Up 0.5%

Shares of Stitch Fix stock traded up $0.02 during midday trading on Monday, hitting $4.23. The company's stock had a trading volume of 933,321 shares, compared to its average volume of 2,483,336. The firm has a market capitalization of $544.81 million, a P/E ratio of -5.10 and a beta of 2.00. The stock has a 50-day simple moving average of $3.39 and a 200-day simple moving average of $4.13. Stitch Fix, Inc. has a 1-year low of $2.18 and a 1-year high of $6.99.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. The firm had revenue of $312.11 million during the quarter, compared to the consensus estimate of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.29) EPS. As a group, sell-side analysts predict that Stitch Fix, Inc. will post -0.44 earnings per share for the current year.

Insider Buying and Selling at Stitch Fix

In other news, insider Casey O'connor sold 50,000 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $3.04, for a total transaction of $152,000.00. Following the completion of the transaction, the insider now directly owns 575,755 shares in the company, valued at $1,750,295.20. This represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 16.95% of the company's stock.

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.