Stitch Fix (NASDAQ:SFIX) Insider Sells 70,000 Shares of Stock

Key Points

• Stitch Fix insider Anthony Bacos sold 70,000 shares on July 6 at an average price of $3.79, totaling about $265,300. The sale reduced his direct stake by 6.35% and was made under a pre-arranged Rule 10b5-1 plan.
• Bacos has been actively selling shares recently, including multiple larger sales in late June and mid-June, such as 100,000 shares on June 24 and 70,011 shares on June 29. These repeated transactions suggest a steady reduction in his position.
• Stitch Fix shares fell 4.6% to $3.55 in Wednesday trading, while the company continues to show mixed fundamentals. The company recently beat quarterly EPS and revenue estimates, but analysts still largely rate the stock a Hold with a consensus target price of $5.12.

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) insider Anthony Bacos sold 70,000 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $3.79, for a total transaction of $265,300.00. Following the transaction, the insider directly owned 1,031,994 shares of the company's stock, valued at $3,911,257.26. This trade represents a 6.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Bacos also recently made the following trade(s):

• On Monday, June 29th, Anthony Bacos sold 70,011 shares of Stitch Fix stock. The shares were sold at an average price of $4.42, for a total value of $309,448.62.
• On Wednesday, June 24th, Anthony Bacos sold 100,000 shares of Stitch Fix stock. The stock was sold at an average price of $4.51, for a total value of $451,000.00.
• On Monday, June 22nd, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The stock was sold at an average price of $4.04, for a total value of $282,800.00.
• On Tuesday, June 16th, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The shares were sold at an average price of $4.15, for a total value of $290,500.00.

Stitch Fix Stock Down 4.6%

NASDAQ SFIX traded down $0.17 during trading on Wednesday, hitting $3.55. 1,327,276 shares of the stock traded hands, compared to its average volume of 2,156,536. The company has a market capitalization of $473.68 million, a P/E ratio of -44.38 and a beta of 2.26. The firm has a 50-day simple moving average of $3.70 and a 200-day simple moving average of $3.97. Stitch Fix, Inc. has a 12-month low of $2.95 and a 12-month high of $5.94.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its quarterly earnings data on Wednesday, June 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.05. The business had revenue of $340.28 million for the quarter, compared to the consensus estimate of $333.51 million. Stitch Fix had a negative return on equity of 9.35% and a negative net margin of 1.43%.The company's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. As a group, research analysts predict that Stitch Fix, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Trading of Stitch Fix

Several hedge funds and other institutional investors have recently bought and sold shares of SFIX. Caerus Investment Advisors LLC purchased a new position in Stitch Fix during the first quarter worth $36,000. First Dallas Securities Inc. purchased a new stake in shares of Stitch Fix in the first quarter valued at $38,000. Krilogy Financial LLC bought a new stake in shares of Stitch Fix in the 1st quarter worth about $46,000. Creative Planning bought a new stake in shares of Stitch Fix in the 2nd quarter worth about $46,000. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Stitch Fix during the 1st quarter worth about $47,000. Hedge funds and other institutional investors own 71.04% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SFIX. UBS Group increased their price objective on shares of Stitch Fix from $4.00 to $4.50 and gave the company a "neutral" rating in a research report on Thursday, June 11th. Telsey Advisory Group reduced their target price on shares of Stitch Fix from $6.00 to $5.00 and set a "market perform" rating on the stock in a report on Thursday, March 12th. Wall Street Zen cut shares of Stitch Fix from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Northland Securities initiated coverage on shares of Stitch Fix in a report on Thursday, May 28th. They issued an "outperform" rating and a $5.00 price target for the company. Finally, Weiss Ratings lowered Stitch Fix from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.12.

Stitch Fix Company Profile

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.

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