Strs Ohio Takes Position in Stitch Fix, Inc. $SFIX

Key Points

• Strs Ohio acquired a new position in Stitch Fix, purchasing 95,600 shares valued at approximately $311,000, representing 0.07% of the company.
• Over 71% of Stitch Fix stock is owned by hedge funds and institutional investors, with notable increases in holdings by other firms in the first quarter.
• Insiders sold over 1 million shares of Stitch Fix stock in the last three months, indicating a potential decrease in confidence as total insider ownership stands at 16.95% after recent transactions.

Strs Ohio acquired a new position in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 95,600 shares of the company's stock, valued at approximately $311,000. Strs Ohio owned 0.07% of Stitch Fix as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in shares of Stitch Fix by 29.2% during the first quarter. Russell Investments Group Ltd. now owns 328,342 shares of the company's stock worth $1,067,000 after purchasing an additional 74,142 shares during the period. Caption Management LLC purchased a new stake in shares of Stitch Fix during the first quarter worth $216,000. Nuveen LLC acquired a new stake in Stitch Fix during the first quarter valued at $4,159,000. Vanguard Group Inc. grew its stake in Stitch Fix by 7.9% in the first quarter. Vanguard Group Inc. now owns 6,982,536 shares of the company's stock valued at $22,693,000 after purchasing an additional 513,422 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in Stitch Fix by 14.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,985,413 shares of the company's stock worth $8,557,000 after purchasing an additional 255,508 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stitch Fix

In related news, CFO David Aufderhaar sold 20,538 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $5.10, for a total value of $104,743.80. Following the completion of the transaction, the chief financial officer owned 937,338 shares of the company's stock, valued at $4,780,423.80. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Casey O'connor sold 31,248 shares of Stitch Fix stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $5.34, for a total value of $166,864.32. Following the sale, the insider directly owned 498,621 shares in the company, valued at $2,662,636.14. The trade was a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,047,536 shares of company stock worth $5,350,202. Insiders own 16.95% of the company's stock.

Analyst Upgrades and Downgrades

SFIX has been the subject of several research reports. Zacks Research upgraded Stitch Fix to a "hold" rating in a report on Monday, August 11th. UBS Group reiterated a "neutral" rating on shares of Stitch Fix in a research note on Wednesday, September 17th. Telsey Advisory Group reissued a "market perform" rating and issued a $6.00 target price on shares of Stitch Fix in a research report on Thursday, September 18th. William Blair upgraded shares of Stitch Fix from a "market perform" rating to an "outperform" rating in a report on Monday, July 14th. Finally, Wall Street Zen lowered shares of Stitch Fix from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $6.00.

Stitch Fix Price Performance

Shares of Stitch Fix stock opened at $5.46 on Wednesday. Stitch Fix, Inc. has a 52-week low of $2.21 and a 52-week high of $6.99. The firm has a market capitalization of $712.48 million, a PE ratio of -11.87 and a beta of 2.03. The company's fifty day moving average price is $5.14 and its two-hundred day moving average price is $4.23.

Stitch Fix 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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