Raymond James & Associates Acquires Shares of 25,600 Stitch Fix, Inc. (NASDAQ:SFIX)

Raymond James & Associates bought a new stake in Stitch Fix, Inc. (NASDAQ:SFIX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 25,600 shares of the company’s stock, valued at approximately $91,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in Stitch Fix during the third quarter worth about $38,000. SG Americas Securities LLC purchased a new stake in shares of Stitch Fix in the 3rd quarter worth approximately $93,000. Financial Gravity Asset Management Inc. increased its position in Stitch Fix by 1,800.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 35,150 shares of the company’s stock valued at $121,000 after buying an additional 33,300 shares in the last quarter. Swiss National Bank increased its position in Stitch Fix by 2.4% during the 3rd quarter. Swiss National Bank now owns 155,400 shares of the company’s stock valued at $536,000 after buying an additional 3,700 shares in the last quarter. Finally, Jump Financial LLC raised its stake in Stitch Fix by 74.7% during the third quarter. Jump Financial LLC now owns 251,400 shares of the company’s stock valued at $867,000 after buying an additional 107,525 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Insider Buying and Selling

In other Stitch Fix news, CAO Sarah Barkema sold 16,311 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $2.24, for a total value of $36,536.64. Following the transaction, the chief accounting officer now directly owns 138,535 shares in the company, valued at $310,318.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SFIX has been the topic of a number of recent research reports. Canaccord Genuity Group cut their target price on Stitch Fix from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Tuesday, March 5th. Piper Sandler reduced their price objective on shares of Stitch Fix from $3.00 to $2.25 and set an “underweight” rating for the company in a research note on Tuesday, March 5th. Wedbush dropped their target price on shares of Stitch Fix from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 5th. Truist Financial cut their price target on shares of Stitch Fix from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Tuesday, March 5th. Finally, UBS Group assumed coverage on shares of Stitch Fix in a report on Monday, April 8th. They issued a “neutral” rating and a $2.80 price objective for the company. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.16.

Stitch Fix Price Performance

SFIX stock opened at $2.14 on Thursday. Stitch Fix, Inc. has a 1 year low of $2.06 and a 1 year high of $5.20. The company has a market cap of $257.16 million, a P/E ratio of -2.08 and a beta of 1.90. The stock’s fifty day moving average price is $2.49 and its 200-day moving average price is $3.15.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Monday, March 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.21). Stitch Fix had a negative return on equity of 39.98% and a negative net margin of 8.29%. The business had revenue of $330.40 million for the quarter, compared to analysts’ expectations of $331.73 million. As a group, analysts expect that Stitch Fix, Inc. will post -0.81 earnings per share for the current year.

Stitch Fix Profile

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.