Vanguard Group Inc. Increases Stock Position in Stitch Fix, Inc. $SFIX

Key Points

• Vanguard Group Inc. increased its holdings in Stitch Fix, acquiring an additional 513,422 shares, bringing its total to approximately 6,982,536 shares, valued at $22.7 million.
• Insider transactions included the sale of 20,538 shares by CFO David Aufderhaar and 90,000 shares by insider Anthony Bacos, collectively reducing their stakes in the company.
• Stitch Fix's stock ratings remain mixed, with one buy rating and four hold ratings, and a current average target price of $5.67.

Vanguard Group Inc. boosted its holdings in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 7.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,982,536 shares of the company's stock after buying an additional 513,422 shares during the period. Vanguard Group Inc. owned approximately 5.42% of Stitch Fix worth $22,693,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in Stitch Fix by 96.6% in 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 in the last quarter. ProShare Advisors LLC increased its stake in Stitch Fix by 68.0% in the fourth quarter. ProShare Advisors LLC now owns 28,525 shares of the company's stock valued at $123,000 after purchasing an additional 11,542 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Stitch Fix during the first quarter worth $99,000. Raymond James Financial Inc. bought a new stake in shares of Stitch Fix during the fourth quarter worth $134,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of Stitch Fix during the fourth quarter worth $162,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Price Performance

SFIX stock traded down $0.27 during trading on Monday, reaching $5.29. 2,465,472 shares of the company were exchanged, compared to its average volume of 1,982,043. The company has a 50-day moving average of $4.58 and a two-hundred day moving average of $4.14. The company has a market capitalization of $690.28 million, a price-to-earnings ratio of -11.50 and a beta of 2.03. Stitch Fix, Inc. has a twelve month low of $2.21 and a twelve month high of $6.99.

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

Wall Street Analyst Weigh In

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

Insider Activity at Stitch Fix

In other news, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $4.68, for a total value of $6,415,957.08. Following the completion of the sale, the insider owned 10,608,822 shares in the company, valued at $49,649,286.96. This represents a 11.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katrina Lake sold 453,485 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $5.06, for a total transaction 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 over the last ninety days. 16.95% of the stock is owned by corporate 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.