Stitch Fix, Inc. $SFIX Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Stitch Fix, Inc. by 13.2% to approximately 1,062,918 shares, valued at $3.45 million.
• Several institutional investors have recently increased their holdings in Stitch Fix, contributing to a total of 71.04% institutional ownership of the company's stock.
• Stitch Fix's recent earnings report showed a loss of ($0.06) EPS, which was better than analysts' expectations of a loss of ($0.11).

Charles Schwab Investment Management Inc. lessened its holdings in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 13.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,062,918 shares of the company's stock after selling 162,242 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.83% of Stitch Fix worth $3,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Stitch Fix by 7.9% during the first quarter. Vanguard Group Inc. now owns 6,982,536 shares of the company's stock valued at $22,693,000 after purchasing an additional 513,422 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Stitch Fix by 142.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,464,863 shares of the company's stock valued at $10,624,000 after purchasing an additional 1,449,941 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Stitch Fix by 14.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,985,413 shares of the company's stock valued at $8,557,000 after purchasing an additional 255,508 shares during the period. Two Sigma Investments LP boosted its stake in shares of Stitch Fix by 300.4% during the fourth quarter. Two Sigma Investments LP now owns 911,349 shares of the company's stock valued at $3,928,000 after purchasing an additional 683,751 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Stitch Fix by 15.2% during the fourth quarter. Northern Trust Corp now owns 876,132 shares of the company's stock valued at $3,776,000 after purchasing an additional 115,377 shares during the period. 71.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen cut Stitch Fix from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. William Blair upgraded Stitch Fix from a "market perform" rating to an "outperform" rating in a report on Monday, July 14th. Zacks Research upgraded Stitch Fix to a "hold" rating in a report on Monday, August 11th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $6.00 price objective on shares of Stitch Fix in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.67.

Stitch Fix Price Performance

SFIX traded down $0.09 on Tuesday, reaching $5.20. 2,376,010 shares of the stock were exchanged, compared to its average volume of 2,206,763. The company's 50-day moving average price is $4.61 and its 200 day moving average price is $4.14. Stitch Fix, Inc. has a fifty-two week low of $2.21 and a fifty-two week high of $6.99. The firm has a market capitalization of $678.55 million, a PE ratio of -11.30 and a beta of 2.03.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.05. Stitch Fix had a negative return on equity of 18.15% and a negative net margin of 4.44%.During the same quarter in the previous year, the company posted ($0.18) earnings per share. The company's revenue was up .7% on a year-over-year basis. As a group, equities analysts forecast that Stitch Fix, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Stitch Fix

In other Stitch Fix news, CFO David Aufderhaar sold 20,538 shares of Stitch Fix stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $5.10, for a total transaction of $104,743.80. Following the completion of the sale, the chief financial officer owned 937,338 shares of the company's stock, valued at approximately $4,780,423.80. The trade was a 2.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony Bacos sold 90,000 shares of Stitch Fix stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $5.00, for a total value of $450,000.00. Following the sale, the insider directly owned 829,966 shares of the company's stock, valued at approximately $4,149,830. This represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,328,467 shares of company stock worth $11,261,260 in the last quarter. 16.95% of the stock is owned by insiders.

About Stitch Fix

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.