Stitch Fix (NASDAQ:SFIX) Shares Up 7.9% - What's Next?

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

Wall Street Analyst Weigh In

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

Stitch Fix Stock Performance

The stock's 50-day moving average price is $4.17 and its two-hundred day moving average price is $4.13. The stock has a market capitalization of $643.32 million, a PE ratio of -10.72 and a beta of 1.93.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, topping 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%. During the same quarter last year, the business earned ($0.18) EPS. The business's quarterly revenue was up .7% on a year-over-year basis. On average, analysts predict that Stitch Fix, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $4.68, for a total transaction of $6,415,957.08. Following the completion of the sale, the insider owned 10,608,822 shares in the company, valued at $49,649,286.96. This represents a 11.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.95% of the stock is currently owned by insiders.

Institutional Trading of Stitch Fix

Institutional investors have recently added to or reduced their stakes in the business. Wescott Financial Advisory Group LLC purchased a new stake in Stitch Fix in the first quarter valued at $32,000. Polymer Capital Management US LLC acquired a new stake in shares of Stitch Fix in the 4th quarter valued at approximately $82,000. Wealth Enhancement Advisory Services LLC boosted its position in Stitch Fix by 96.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,786 shares of the company's stock worth $107,000 after purchasing an additional 12,177 shares during the period. Martingale Asset Management L P acquired a new position in Stitch Fix during the first quarter worth about $85,000. Finally, ProShare Advisors LLC raised its position in shares of Stitch Fix by 68.0% during the fourth quarter. ProShare Advisors LLC now owns 28,525 shares of the company's stock worth $123,000 after purchasing an additional 11,542 shares during the period. 71.04% of the stock is currently 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.

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