Landscape Capital Management L.L.C. Buys 579,593 Shares of Stitch Fix, Inc. $SFIX

Key Points

• Landscape Capital Management L.L.C. significantly increased its stake in Stitch Fix, Inc. by 811.1% in the first quarter, acquiring a total of 651,047 shares valued at approximately $2.12 million.
• Stitch Fix reported earnings of ($0.06) per share for the latest quarter, surpassing analysts' expectations, with revenue up **0.7%** compared to the same period last year.
• Insider sales have occurred recently, with a notable transaction where insider Casey O'Connor sold 50,000 shares for approximately $236,000, leading to a 8.95% decrease in their ownership.

Landscape Capital Management L.L.C. grew its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 811.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 651,047 shares of the company's stock after acquiring an additional 579,593 shares during the period. Landscape Capital Management L.L.C. owned 0.51% of Stitch Fix worth $2,116,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wescott Financial Advisory Group LLC acquired a new position in shares of Stitch Fix during the 1st quarter worth about $32,000. Martingale Asset Management L P acquired a new position in shares of Stitch Fix during the first quarter valued at about $85,000. Diversified Trust Co acquired a new position in shares of Stitch Fix during the first quarter valued at about $99,000. Wealth Enhancement Advisory Services LLC raised 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 buying an additional 12,177 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Stitch Fix by 68.0% during the fourth quarter. ProShare Advisors LLC now owns 28,525 shares of the company's stock valued at $123,000 after buying an additional 11,542 shares during the last quarter. 71.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, insider Casey O'connor sold 31,248 shares of Stitch Fix stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $5.34, for a total value of $166,864.32. Following the completion of the transaction, the insider owned 498,621 shares in the company, valued at $2,662,636.14. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Aufderhaar sold 20,538 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $5.10, for a total transaction of $104,743.80. Following the sale, the chief financial officer directly owned 937,338 shares in the company, valued at $4,780,423.80. This trade represents a 2.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,328,467 shares of company stock valued at $11,261,260 over the last 90 days. 16.95% of the stock is currently owned by company insiders.

Stitch Fix Trading Down 1.6%

NASDAQ SFIX traded down $0.09 during trading on Tuesday, reaching $5.21. The company's stock had a trading volume of 1,597,089 shares, compared to its average volume of 2,201,676. The firm has a 50 day moving average price of $4.61 and a 200 day moving average price of $4.14. Stitch Fix, Inc. has a 12 month low of $2.21 and a 12 month high of $6.99. The firm has a market capitalization of $679.20 million, a price-to-earnings ratio of -11.34 and a beta of 2.03.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported ($0.06) earnings per share for the quarter, topping 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 quarter in the previous year, the firm earned ($0.18) earnings per share. The business's quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts forecast that Stitch Fix, Inc. will post -0.44 EPS for the current fiscal year.

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.