Stitch Fix, Inc. $SFIX Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Stitch Fix, Inc. by 29.2%, owning approximately 0.25% of the company valued at about $1,067,000.
• Stitch Fix reported a negative EPS of $0.06 for the last quarter, surpassing the consensus estimate by $0.05, while also experiencing a 0.7% increase in quarterly revenue year-over-year.
• Insider trading activities revealed significant sales, with insiders offloading a total of 2,328,467 shares of the company stock worth over $11 million in the past 90 days.

Russell Investments Group Ltd. raised its position in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 29.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 328,342 shares of the company's stock after purchasing an additional 74,142 shares during the period. Russell Investments Group Ltd. owned 0.25% of Stitch Fix worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SFIX. Wells Fargo & Company MN grew its position in shares of Stitch Fix by 51.5% in the 4th quarter. Wells Fargo & Company MN now owns 62,984 shares of the company's stock valued at $271,000 after buying an additional 21,423 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Stitch Fix in the 4th quarter valued at $134,000. Barclays PLC grew its position in shares of Stitch Fix by 4.9% in the 4th quarter. Barclays PLC now owns 177,168 shares of the company's stock valued at $762,000 after buying an additional 8,215 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Stitch Fix by 60.1% in the 4th quarter. MetLife Investment Management LLC now owns 57,423 shares of the company's stock valued at $247,000 after buying an additional 21,559 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Stitch Fix by 12.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,402 shares of the company's stock valued at $425,000 after buying an additional 10,715 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Stitch Fix

In other Stitch Fix news, insider Anthony Bacos sold 90,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $5.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider owned 829,966 shares of the company's stock, valued at approximately $4,149,830. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katrina Lake sold 453,485 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were 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 a total of 2,328,467 shares of company stock valued at $11,261,260 in the last ninety days. 16.95% of the stock is owned by insiders.

Stitch Fix Stock Down 1.9%

Shares of NASDAQ SFIX traded down $0.10 during midday trading on Tuesday, hitting $5.19. The company had a trading volume of 1,130,487 shares, compared to its average volume of 2,198,985. The firm has a market capitalization of $677.50 million, a price-to-earnings ratio of -11.25 and a beta of 2.03. The business has a 50-day simple moving average of $4.61 and a two-hundred day simple moving average of $4.14. 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 issued its quarterly earnings data on Wednesday, June 11th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates 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 business posted ($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 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.