Goldman Sachs Group Inc. Decreases Stake in Stitch Fix, Inc. $SFIX

Key Points

• Goldman Sachs Group Inc. reduced its stake in Stitch Fix, Inc. by 41.3%, selling 644,179 shares in the first quarter, leaving it with 914,125 shares valued at $2,971,000.
• Several large investors, including Northern Trust Corp and Deutsche Bank AG, have recently increased their positions in Stitch Fix, highlighting ongoing institutional interest in the company.
• Stitch Fix's stock is currently trading at approximately $5.67, with a 1-year low of $2.21 and a high of $6.99, while analysts maintain a "Hold" rating with an average price target of $6.00.

Goldman Sachs Group Inc. cut its holdings in shares of Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 41.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 914,125 shares of the company's stock after selling 644,179 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.70% of Stitch Fix worth $2,971,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Wescott Financial Advisory Group LLC acquired a new stake in Stitch Fix in the first quarter worth approximately $32,000. Martingale Asset Management L P bought a new position in shares of Stitch Fix in the first quarter worth about $85,000. Diversified Trust Co bought a new position in Stitch Fix during the first quarter worth $99,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Stitch Fix by 96.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,786 shares of the company's stock valued at $107,000 after purchasing an additional 12,177 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Stitch Fix by 68.0% in the 4th quarter. ProShare Advisors LLC now owns 28,525 shares of the company's stock worth $123,000 after buying an additional 11,542 shares in the last quarter. Institutional investors and hedge funds own 71.04% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on SFIX. UBS Group reiterated a "neutral" rating on shares of Stitch Fix in a report on Wednesday, September 17th. Zacks Research upgraded Stitch Fix to a "hold" rating in a research note on Monday, August 11th. Telsey Advisory Group reiterated a "market perform" rating and set a $6.00 target price on shares of Stitch Fix in a research note on Thursday. William Blair upgraded Stitch Fix from a "market perform" rating to an "outperform" rating in a research note on Monday, July 14th. Finally, Wall Street Zen downgraded Stitch Fix from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Stitch Fix has a consensus rating of "Hold" and a consensus price target of $6.00.

Insider Activity at Stitch Fix

In related news, insider Casey O'connor sold 31,248 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $5.34, for a total value of $166,864.32. Following the sale, the insider directly owned 498,621 shares in the company, valued at approximately $2,662,636.14. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katrina Lake sold 151,150 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $5.03, for a total transaction of $760,284.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 957,536 shares of company stock worth $4,845,302. Company insiders own 16.95% of the company's stock.

Stitch Fix Price Performance

NASDAQ:SFIX traded down $0.10 during mid-day trading on Monday, reaching $5.58. 1,918,017 shares of the company's stock traded hands, compared to its average volume of 2,188,435. The company has a 50 day moving average price of $5.09 and a 200-day moving average price of $4.21. The firm has a market capitalization of $727.47 million, a price-to-earnings ratio of -12.18 and a beta of 2.03. Stitch Fix, Inc. has a 12-month low of $2.21 and a 12-month high of $6.99.

Stitch Fix 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.