Stitch Fix, Inc. $SFIX Shares Bought by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in Stitch Fix, Inc. by 70.1%, acquiring an additional 181,359 shares during the 1st quarter, bringing its total holdings to approximately 440,000 shares valued at $1.43 million.
• Several other hedge funds also adjusted their positions in Stitch Fix, with Landscape Capital Management L.L.C. increasing its stake by 811.1%, signifying strong institutional interest in the company.
• Analysts have provided mixed ratings on Stitch Fix, with a current consensus rating of "Hold" and an average price target of $5.67, indicating cautious optimism among investors.

Panagora Asset Management Inc. boosted its position in shares of Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 70.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 439,967 shares of the company's stock after acquiring an additional 181,359 shares during the period. Panagora Asset Management Inc. owned about 0.34% of Stitch Fix worth $1,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SFIX. Wescott Financial Advisory Group LLC acquired a new position in shares of Stitch Fix during the first quarter worth $32,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Stitch Fix by 96.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,786 shares of the company's stock worth $107,000 after acquiring an additional 12,177 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Stitch Fix in the 1st quarter valued at about $85,000. ProShare Advisors LLC raised its position in shares of Stitch Fix by 68.0% during the 4th quarter. ProShare Advisors LLC now owns 28,525 shares of the company's stock worth $123,000 after acquiring an additional 11,542 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in Stitch Fix during the first quarter worth approximately $99,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SFIX has been the topic of several recent analyst reports. Telsey Advisory Group reiterated a "market perform" rating and issued a $6.00 price target on shares of Stitch Fix in a research note on Wednesday, June 11th. Zacks Research raised shares of Stitch Fix to a "hold" rating in a research report on Monday, August 11th. Wall Street Zen cut shares of Stitch Fix from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, William Blair raised Stitch Fix from a "market perform" rating to an "outperform" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Stitch Fix has an average rating of "Hold" and an average price target of $5.67.

Stitch Fix Stock Performance

NASDAQ SFIX traded up $0.04 during trading on Friday, reaching $5.65. The company's stock had a trading volume of 1,709,137 shares, compared to its average volume of 1,974,132. The business's fifty day moving average price is $4.75 and its 200-day moving average price is $4.15. Stitch Fix, Inc. has a twelve month low of $2.21 and a twelve month high of $6.99. The firm has a market cap of $737.25 million, a price-to-earnings ratio of -12.28 and a beta of 2.03.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The company reported ($0.06) earnings per share (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%.The business's quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) EPS. As a group, sell-side analysts forecast that Stitch Fix, Inc. will post -0.44 EPS for the current fiscal year.

Insider Activity at Stitch Fix

In other Stitch Fix news, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of Stitch Fix stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $4.68, for a total value of $6,415,957.08. Following the sale, the insider owned 10,608,822 shares of the company's stock, valued at approximately $49,649,286.96. The trade was a 11.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katrina Lake sold 453,485 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $5.06, for a total value of $2,294,634.10. The disclosure for this sale can be found here. Insiders have sold 2,328,467 shares of company stock worth $11,261,260 in the last 90 days. Corporate insiders own 16.95% of the company's stock.

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.