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

Key Points

• Insider Anthony Bacos sold 70,000 Stitch Fix shares at an average price of $3.79, generating $265,300. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 991,994 shares.
• Bacos has also sold shares in several transactions since mid-June, totaling more than 440,000 shares, indicating a sustained pattern of insider selling.
• Stitch Fix shares rose 3.1% to $4.14, while the company’s latest quarterly results beat expectations on both earnings and revenue. Analysts maintain a consensus “Hold” rating, with an average price target of $5.12.

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) insider Anthony Bacos sold 70,000 shares of the firm's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $3.79, for a total transaction of $265,300.00. Following the sale, the insider owned 991,994 shares in the company, valued at $3,759,657.26. The trade was a 6.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, July 13th, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The stock was sold at an average price of $3.62, for a total value of $253,400.00.
• On Monday, July 6th, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The shares were sold at an average price of $3.79, for a total value of $265,300.00.
• On Monday, June 29th, Anthony Bacos sold 70,011 shares of Stitch Fix stock. The stock was 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 shares were 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 stock was sold at an average price of $4.15, for a total value of $290,500.00.

Stitch Fix Stock Up 3.1%

SFIX stock traded up $0.12 during midday trading on Tuesday, hitting $4.14. The company's stock had a trading volume of 480,557 shares, compared to its average volume of 2,056,116. Stitch Fix, Inc. has a 12 month low of $2.95 and a 12 month high of $5.94. The company has a 50 day moving average of $3.78 and a two-hundred day moving average of $3.82. The firm has a market capitalization of $553.05 million, a price-to-earnings ratio of -51.81 and a beta of 2.26.

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, beating the consensus estimate of ($0.06) by $0.05. Stitch Fix had a negative net margin of 1.43% and a negative return on equity of 9.35%. The firm had revenue of $340.28 million for the quarter, compared to analysts' expectations of $333.51 million. During the same quarter last year, the business posted ($0.06) earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Stitch Fix, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on SFIX. Wall Street Zen downgraded Stitch Fix from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Northland Securities started coverage on Stitch Fix in a research report on Thursday, May 28th. They set an "outperform" rating and a $5.00 target price for the company. Weiss Ratings upgraded shares of Stitch Fix from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, July 13th. Finally, UBS Group upped their price target on shares of Stitch Fix from $4.00 to $4.50 and gave the company a "neutral" rating in a research note on Thursday, June 11th. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $5.12.

Hedge Funds Weigh In On Stitch Fix

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in Stitch Fix by 52.1% in the fourth quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company's stock worth $51,000 after buying an additional 3,329 shares during the last quarter. Pallas Capital Advisors LLC increased its position in Stitch Fix by 32.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 14,085 shares of the company's stock valued at $74,000 after acquiring an additional 3,428 shares during the last quarter. State of Wyoming raised its stake in shares of Stitch Fix by 31.9% in the fourth quarter. State of Wyoming now owns 16,001 shares of the company's stock valued at $84,000 after acquiring an additional 3,866 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Stitch Fix by 7.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company's stock worth $199,000 after acquiring an additional 3,993 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Stitch Fix by 12.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company's stock worth $147,000 after acquiring an additional 4,303 shares during the last quarter. Institutional investors own 71.04% of the company's stock.

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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