Stitch Fix (NASDAQ:SFIX) Trading Down 5.1% - Here's What Happened

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report)'s stock price traded down 5.1% during trading on Tuesday . The stock traded as low as $4.55 and last traded at $4.49. 571,861 shares were traded during trading, a decline of 76% from the average session volume of 2,369,655 shares. The stock had previously closed at $4.73.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group restated a "market perform" rating and set a $6.00 price objective on shares of Stitch Fix in a research note on Wednesday.

Stitch Fix Trading Down 8.5%

The company has a market capitalization of $564.77 million, a price-to-earnings ratio of -5.28 and a beta of 2.00. The firm's 50 day moving average price is $3.71 and its two-hundred day moving average price is $4.21.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.05. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. During the same period last year, the company posted ($0.18) EPS. The business's revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts predict that Stitch Fix, Inc. will post -0.44 EPS for the current year.

Insider Activity at Stitch Fix

In other Stitch Fix news, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 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 SEC, which is available at this hyperlink. Also, 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 transaction, the insider now owns 575,755 shares in the company, valued at approximately $1,750,295.20. The trade was a 7.99% decrease in their position. The disclosure for this sale can be found here. 16.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SFIX. SBI Securities Co. Ltd. acquired a new position in shares of Stitch Fix during the 4th quarter worth approximately $29,000. Wescott Financial Advisory Group LLC acquired a new position in shares of Stitch Fix during the 1st quarter worth approximately $32,000. Bellecapital International Ltd. bought a new stake in shares of Stitch Fix during the 4th quarter worth approximately $55,000. Savant Capital LLC bought a new stake in shares of Stitch Fix during the 4th quarter worth approximately $79,000. Finally, Polymer Capital Management US LLC bought a new stake in shares of Stitch Fix during the 4th quarter worth approximately $82,000. 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.