Arrowstreet Capital Limited Partnership Has $9.62 Million Stock Position in Stitch Fix, Inc. $SFIX

Key Points

• Arrowstreet Capital reduced its Stitch Fix stake by 9.4% during the first quarter, selling 303,066 shares and retaining 2.91 million shares worth approximately $9.62 million, or 2.13% of the company.
• Other major institutions increased their holdings, and institutional investors and hedge funds collectively own 71.04% of Stitch Fix.
• Stitch Fix beat quarterly earnings and revenue estimates, reporting a loss of $0.01 per share on $340.28 million in revenue. Analysts maintain an average “Hold” rating with a $5.12 price target, compared with the stock’s recent price of $4.02.

Arrowstreet Capital Limited Partnership lessened its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 9.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,905,663 shares of the company's stock after selling 303,066 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.13% of Stitch Fix worth $9,618,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Stitch Fix by 3.2% in the third quarter. Vanguard Group Inc. now owns 7,682,725 shares of the company's stock valued at $33,420,000 after purchasing an additional 240,584 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Stitch Fix by 73.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,664,995 shares of the company's stock worth $19,241,000 after purchasing an additional 1,549,902 shares during the last quarter. State Street Corp increased its stake in shares of Stitch Fix by 18.6% in the fourth quarter. State Street Corp now owns 3,239,044 shares of the company's stock valued at $17,005,000 after buying an additional 508,588 shares during the period. Geode Capital Management LLC increased its stake in shares of Stitch Fix by 10.5% in the fourth quarter. Geode Capital Management LLC now owns 2,791,632 shares of the company's stock valued at $14,659,000 after buying an additional 266,356 shares during the period. Finally, Marshall Wace LLP raised its holdings in Stitch Fix by 28.0% in the 3rd quarter. Marshall Wace LLP now owns 2,572,372 shares of the company's stock valued at $11,190,000 after buying an additional 562,338 shares during the last quarter. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Stock Performance

Stitch Fix stock opened at $4.02 on Friday. The stock has a market capitalization of $536.39 million, a price-to-earnings ratio of -50.25 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. The stock's 50 day moving average price is $3.85 and its two-hundred day moving average price is $3.81.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its quarterly earnings data 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 net margin of 1.43% and a negative return on equity of 9.35%. The company had revenue of $340.28 million during the quarter, compared to analyst estimates of $333.51 million. During the same quarter in the previous year, the business posted ($0.06) EPS. Stitch Fix's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Stitch Fix, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling

In related news, insider Anthony Bacos sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $4.51, for a total transaction of $451,000.00. Following the transaction, the insider directly owned 1,071,994 shares of the company's stock, valued at approximately $4,834,692.94. This represents a 8.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Aufderhaar sold 67,960 shares of the business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $3.79, for a total value of $257,568.40. Following the sale, the chief financial officer 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 657,971 shares of company stock worth $2,638,517. 16.09% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Stitch Fix from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 13th. UBS Group lifted their target price on Stitch Fix from $4.00 to $4.50 and gave the stock a "neutral" rating in a report on Thursday, June 11th. Northland Securities started coverage on Stitch Fix in a research report on Thursday, May 28th. They issued an "outperform" rating and a $5.00 price target on the stock. Finally, Wall Street Zen cut Stitch Fix from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target 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.

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