Stitch Fix (NASDAQ:SFIX) Downgraded to "Hold" Rating by Wall Street Zen

Stitch Fix (NASDAQ:SFIX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

Separately, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $6.00 price objective on shares of Stitch Fix in a report on Wednesday, June 11th.

Stitch Fix Price Performance

NASDAQ SFIX traded down $0.04 during trading on Friday, reaching $3.78. 3,353,101 shares of the company's stock were exchanged, compared to its average volume of 2,435,536. The business has a 50 day moving average price of $3.87 and a 200-day moving average price of $4.17. The stock has a market capitalization of $493.25 million, a P/E ratio of -8.22 and a beta of 2.00. Stitch Fix has a fifty-two week low of $2.21 and a fifty-two week high of $6.99.

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

Insider Buying and Selling at Stitch Fix

In related news, insider Casey O'connor sold 50,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $3.04, for a total transaction of $152,000.00. Following the sale, the insider now owns 575,755 shares of the company's stock, valued at $1,750,295.20. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $4.68, for a total value of $6,415,957.08. Following the sale, the insider now directly owns 10,608,822 shares in the company, valued at $49,649,286.96. This represents a 11.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.95% of the company's stock.

Institutional Investors Weigh In On Stitch Fix

A number of large investors have recently added to or reduced their stakes in SFIX. Focus Partners Wealth bought a new stake in Stitch Fix during the fourth quarter worth $1,183,000. Ieq Capital LLC bought a new stake in Stitch Fix during the fourth quarter worth $299,000. Geode Capital Management LLC lifted its stake in Stitch Fix by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 2,459,014 shares of the company's stock worth $10,601,000 after purchasing an additional 164,089 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Stitch Fix during the fourth quarter worth $661,000. Finally, Point72 Asset Management L.P. bought a new stake in Stitch Fix during the fourth quarter worth $353,000. Institutional investors and hedge funds own 71.04% of the company's stock.

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.