Insider Selling: Stitch Fix (NASDAQ:SFIX) Insider Sells 70,011 Shares of Stock

Stitch Fix, Inc. (NASDAQ:SFIX) insider Anthony Bacos sold 70,011 shares of Stitch Fix stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $4.42, for a total value of $309,448.62. Following the completion of the sale, the insider owned 1,051,994 shares of the company’s stock, valued at approximately $4,649,813.48. The trade was a 6.24% 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 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 transaction 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 transaction of $282,800.00.
• On Tuesday, June 16th, Anthony Bacos sold 70,000 shares of Stitch Fix stock. The shares were sold at an average price of $4.15, for a total transaction of $290,500.00.

Stitch Fix Stock Performance

SFIX traded down $0.10 during trading on Wednesday, reaching $4.01. 1,623,067 shares of the company’s stock were exchanged, compared to its average volume of 2,175,312. The company’s fifty day moving average price is $3.70 and its 200-day moving average price is $4.02. Stitch Fix, Inc. has a fifty-two week low of $2.95 and a fifty-two week high of $5.94. The firm has a market capitalization of $535.05 million, a PE ratio of -50.12 and a beta of 2.31.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Wednesday, June 10th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.05. The company had revenue of $340.28 million during the quarter, compared to analysts’ expectations of $333.51 million. Stitch Fix had a negative net margin of 1.43% and a negative return on equity of 9.35%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. Research analysts forecast that Stitch Fix, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stitch Fix

Several large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in shares of Stitch Fix by 302.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,897,171 shares of the company’s stock valued at $12,603,000 after purchasing an additional 2,178,156 shares during the period. Marshall Wace LLP grew its holdings in shares of Stitch Fix by 4,898.1% during the second quarter. Marshall Wace LLP now owns 2,010,034 shares of the company’s stock worth $7,437,000 after buying an additional 1,969,818 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Stitch Fix by 73.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,664,995 shares of the company’s stock valued at $19,241,000 after acquiring an additional 1,549,902 shares in the last quarter. Archon Capital Management LLC acquired a new stake in shares of Stitch Fix in the fourth quarter valued at approximately $7,702,000. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in Stitch Fix in the 4th quarter valued at $6,739,000. 71.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SFIX. Telsey Advisory Group lowered their price target on Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, March 12th. Weiss Ratings lowered shares of Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 12th. William Blair restated a “mixed” rating on shares of Stitch Fix in a report on Friday, March 6th. UBS Group upped their target price 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. Finally, Northland Securities assumed coverage on shares of Stitch Fix in a report on Thursday, May 28th. They issued an “outperform” rating and a $5.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Stitch Fix presently has a consensus rating of “Hold” and a consensus target price of $5.12.

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.