Stitch Fix (NASDAQ:SFIX) Stock Price Up 7.9% - Here's What Happened

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) shares traded up 7.9% on Monday . The stock traded as high as $4.94 and last traded at $4.99. 1,351,828 shares were traded during mid-day trading, a decline of 44% from the average session volume of 2,408,781 shares. The stock had previously closed at $4.62.

Analysts Set New Price Targets

SFIX has been the topic of a number of research reports. Telsey Advisory Group reaffirmed a "market perform" rating and set a $6.00 target price on shares of Stitch Fix in a research report on Wednesday, June 11th. Wall Street Zen lowered Stitch Fix from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, William Blair raised Stitch Fix from a "market perform" rating to an "outperform" rating in a report on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $5.67.

Stitch Fix Price Performance

The company has a market cap of $678.55 million, a PE ratio of -11.30 and a beta of 1.93. The business has a 50-day moving average of $4.24 and a 200 day moving average of $4.15.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last issued its quarterly earnings data on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.05. Stitch Fix had a negative net margin of 4.44% and a negative return on equity of 18.15%. The firm's quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) earnings per share. On average, equities analysts predict that Stitch Fix, Inc. will post -0.44 EPS for the current fiscal year.

Insider Activity

In related news, insider Casey O'connor sold 10,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $5.00, for a total transaction of $50,000.00. Following the transaction, the insider directly owned 498,621 shares in the company, valued at $2,493,105. The trade was a 1.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Aufderhaar sold 20,538 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was 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 trade represents a 2.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,146,069 shares of company stock worth $10,334,111 over the last ninety days. 16.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stitch Fix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of Stitch Fix during the 4th quarter worth $134,000. American Century Companies Inc. increased its stake in Stitch Fix by 16.5% in the fourth quarter. American Century Companies Inc. now owns 187,022 shares of the company's stock valued at $806,000 after purchasing an additional 26,492 shares during the period. LPL Financial LLC lifted its stake in shares of Stitch Fix by 314.5% in the 4th quarter. LPL Financial LLC now owns 82,055 shares of the company's stock worth $354,000 after acquiring an additional 62,258 shares during the period. Vanguard Group Inc. grew its stake in shares of Stitch Fix by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 6,469,114 shares of the company's stock worth $27,882,000 after purchasing an additional 457,568 shares during the period. Finally, Corebridge Financial Inc. grew its stake in shares of Stitch Fix by 4.8% during the 4th quarter. Corebridge Financial Inc. now owns 50,355 shares of the company's stock worth $217,000 after purchasing an additional 2,295 shares during the period. 71.04% of the stock is owned by hedge funds and other institutional investors.

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.