Millennium Management LLC Lowers Stock Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Millennium Management LLC cut its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 80.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 215,567 shares of the company's stock after selling 900,869 shares during the period. Millennium Management LLC owned 0.17% of Stitch Fix worth $929,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Stitch Fix by 16.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,277 shares of the company's stock worth $247,000 after purchasing an additional 8,066 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Stitch Fix by 142.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,464,863 shares of the company's stock worth $10,624,000 after purchasing an additional 1,449,941 shares during the period. Graham Capital Management L.P. boosted its position in Stitch Fix by 78.7% during the 4th quarter. Graham Capital Management L.P. now owns 131,478 shares of the company's stock worth $567,000 after purchasing an additional 57,885 shares during the period. Focus Partners Wealth purchased a new stake in Stitch Fix during the 4th quarter worth $1,183,000. Finally, Deutsche Bank AG boosted its position in Stitch Fix by 63.1% during the 4th quarter. Deutsche Bank AG now owns 77,147 shares of the company's stock worth $333,000 after purchasing an additional 29,836 shares during the period. 71.04% of the stock is owned by hedge funds and other institutional investors.

Stitch Fix Price Performance

NASDAQ:SFIX opened at $4.67 on Friday. The firm has a 50-day moving average of $3.62 and a two-hundred day moving average of $4.19. The stock has a market cap of $601.48 million, a P/E ratio of -5.63 and a beta of 2.00. Stitch Fix, Inc. has a 1-year low of $2.21 and a 1-year high of $6.99.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. The company had revenue of $312.11 million during the quarter, compared to analysts' expectations of $298.04 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.29) EPS. As a group, equities analysts expect 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 transaction, the insider now owns 575,755 shares of the company's stock, valued at approximately $1,750,295.20. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reaffirmed a "market perform" rating and set a $6.00 price target on shares of Stitch Fix in a research report on Wednesday.

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.

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