JPMorgan Chase & Co. Acquires 241,103 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

JPMorgan Chase & Co. boosted its position in shares of Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 149.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,328 shares of the company's stock after acquiring an additional 241,103 shares during the period. JPMorgan Chase & Co. owned 0.32% of Stitch Fix worth $1,734,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SFIX. Barclays PLC boosted its stake in shares of Stitch Fix by 30.7% in the 3rd quarter. Barclays PLC now owns 168,953 shares of the company's stock valued at $475,000 after purchasing an additional 39,713 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Stitch Fix by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company's stock worth $6,473,000 after purchasing an additional 83,220 shares during the period. Virtu Financial LLC purchased a new stake in shares of Stitch Fix during the third quarter worth about $196,000. Franklin Resources Inc. boosted its holdings in shares of Stitch Fix by 68.0% during the third quarter. Franklin Resources Inc. now owns 144,261 shares of the company's stock worth $391,000 after purchasing an additional 58,412 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Stitch Fix during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 71.04% of the company's stock.

Stitch Fix Stock Down 1.8 %

Shares of SFIX stock traded down $0.06 during trading hours on Wednesday, hitting $3.27. 1,458,060 shares of the company's stock traded hands, compared to its average volume of 2,457,615. The stock's fifty day simple moving average is $3.57 and its two-hundred day simple moving average is $4.05. Stitch Fix, Inc. has a 12-month low of $2.07 and a 12-month high of $6.99. The stock has a market cap of $421.17 million, a price-to-earnings ratio of -3.94 and a beta of 2.03.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The firm had revenue of $312.11 million during the quarter, compared to analyst estimates of $298.04 million. During the same period last year, the business earned ($0.29) earnings per share. The business's revenue was down 5.5% on a year-over-year basis. On average, equities analysts forecast that Stitch Fix, Inc. will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stitch Fix news, insider Casey O'connor sold 50,000 shares of Stitch Fix stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $3.04, for a total value of $152,000.00. Following the completion of the sale, the insider now owns 575,755 shares of the company's stock, valued at approximately $1,750,295.20. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reiterated a "market perform" rating and set a $6.00 target price on shares of Stitch Fix in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $4.50.

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.