Stitch Fix, Inc. $SFIX Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. reduced its stake in Stitch Fix, Inc. by 26.7%, holding approximately 1.19% of the company after selling 559,087 shares during the first quarter.
• Insider trading activity included CFO David Aufderhaar selling 20,538 shares and another insider selling 90,000 shares, both transactions indicating a decrease in their respective positions.
• Equities research analysts have set a consensus rating of "Hold" for Stitch Fix with an average target price of $5.67 following various upgrades and downgrades over recent months.

Hodges Capital Management Inc. cut its holdings in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 26.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,535,913 shares of the company's stock after selling 559,087 shares during the period. Hodges Capital Management Inc. owned 1.19% of Stitch Fix worth $4,992,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in Stitch Fix during the first quarter worth $311,000. Acadian Asset Management LLC increased its position in shares of Stitch Fix by 533.5% during the first quarter. Acadian Asset Management LLC now owns 369,069 shares of the company's stock worth $1,198,000 after acquiring an additional 310,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Stitch Fix by 7.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company's stock worth $199,000 after acquiring an additional 3,993 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Stitch Fix by 6.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,635,207 shares of the company's stock worth $8,564,000 after acquiring an additional 170,344 shares during the period. Finally, AlTi Global Inc. increased its position in shares of Stitch Fix by 74.3% during the first quarter. AlTi Global Inc. now owns 51,506 shares of the company's stock worth $167,000 after acquiring an additional 21,954 shares during the period. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stitch Fix

In other news, CFO David Aufderhaar sold 20,538 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were 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 in the company, valued at approximately $4,780,423.80. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. Insiders have sold a total of 957,536 shares of company stock worth $4,845,302 over the last three months. 16.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SFIX has been the subject of a number of recent analyst reports. Telsey Advisory Group reaffirmed a "market perform" rating and set a $6.00 price target on shares of Stitch Fix in a report on Wednesday, June 11th. Zacks Research raised Stitch Fix to a "hold" rating in a research report on Monday, August 11th. William Blair raised Stitch Fix from a "market perform" rating to an "outperform" rating in a research report on Monday, July 14th. Wall Street Zen cut Stitch Fix from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, UBS Group upped their price objective on Stitch Fix from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.00.

Stitch Fix Stock Performance

Shares of SFIX stock traded up $0.18 during mid-day trading on Wednesday, hitting $5.66. 543,193 shares of the stock were exchanged, compared to its average volume of 2,174,987. The stock's fifty day simple moving average is $5.00 and its two-hundred day simple moving average is $4.19. The stock has a market capitalization of $737.92 million, a price-to-earnings ratio of -12.29 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.