Telsey Advisory Group reaffirmed their market perform rating on shares of Stitch Fix (NASDAQ:SFIX - Free Report) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $6.00 target price on the stock.
Stitch Fix Stock Down 5.1%
Shares of NASDAQ:SFIX traded down $0.22 during trading on Wednesday, reaching $4.07. The stock had a trading volume of 1,818,228 shares, compared to its average volume of 2,418,864. The stock has a fifty day simple moving average of $3.74 and a two-hundred day simple moving average of $4.21. Stitch Fix has a 52 week low of $2.21 and a 52 week high of $6.99. The firm has a market capitalization of $524.20 million, a price-to-earnings ratio of -4.90 and a beta of 2.00.
Stitch Fix (NASDAQ:SFIX - Get Free Report) last posted its earnings results on Wednesday, June 11th. The company reported ($0.06) earnings per share (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%. The firm's revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm posted ($0.18) EPS. On average, analysts forecast that Stitch Fix will post -0.44 EPS for the current year.
Insider Transactions at Stitch Fix
In other Stitch Fix news, insider Casey O'connor sold 50,000 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $3.04, for a total value of $152,000.00. Following the completion of the sale, the insider now directly owns 575,755 shares of the company's stock, valued at $1,750,295.20. This represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was 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 now owns 10,608,822 shares in the company, valued at $49,649,286.96. This represents a 11.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.95% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in SFIX. Strs Ohio acquired a new stake in Stitch Fix during the first quarter worth about $311,000. Acadian Asset Management LLC lifted its position in shares of Stitch Fix by 533.5% in the 1st quarter. Acadian Asset Management LLC now owns 369,069 shares of the company's stock worth $1,198,000 after acquiring an additional 310,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Stitch Fix by 7.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company's stock worth $199,000 after purchasing an additional 3,993 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Stitch Fix by 6.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,635,207 shares of the company's stock valued at $8,564,000 after purchasing an additional 170,344 shares during the period. Finally, AlTi Global Inc. increased its position in shares of Stitch Fix by 74.3% during the first quarter. AlTi Global Inc. now owns 51,506 shares of the company's stock valued at $167,000 after purchasing an additional 21,954 shares during the period. Institutional investors and hedge funds own 71.04% of the company's stock.
Stitch Fix Company Profile
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Get Free Report)
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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