Key Points
- Stitch Fix insider Anthony Bacos sold 70,000 shares on June 16 at an average price of $4.15, totaling about $290,500. The sale reduced his holdings by 6.06% and was made under a pre-arranged Rule 10b5-1 trading plan.
- The company recently posted a better-than-expected quarter, reporting a small loss of $0.01 per share versus analysts’ estimate of a $0.06 loss. Revenue came in at $340.28 million, ahead of expectations and up 4.7% year over year.
- Analyst sentiment remains cautious, with an overall average rating of “Hold” and a consensus price target of $5.12. Stitch Fix shares were trading around $4.03, below that target but above their 50-day average.
Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) insider Anthony Bacos sold 70,000 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $4.15, for a total value of $290,500.00. Following the completion of the transaction, the insider owned 1,085,109 shares in the company, valued at approximately $4,503,202.35. The trade was a 6.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Stitch Fix Trading Up 4.9%
Shares of NASDAQ SFIX opened at $4.03 on Friday. The stock has a fifty day simple moving average of $3.56 and a two-hundred day simple moving average of $4.06. Stitch Fix, Inc. has a 1-year low of $2.95 and a 1-year high of $5.94. The firm has a market cap of $550.18 million, a price-to-earnings ratio of -50.38 and a beta of 2.31.
Stitch Fix (NASDAQ:SFIX - Get Free Report) last issued its quarterly earnings results on Wednesday, June 10th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.05. The firm had revenue of $340.28 million for the quarter, compared to analysts' expectations of $333.51 million. Stitch Fix had a negative return on equity of 9.35% and a negative net margin of 1.43%.The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) EPS. Analysts forecast that Stitch Fix, Inc. will post -0.15 EPS for the current year.
Institutional Trading of Stitch Fix
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Caerus Investment Advisors LLC bought a new position in Stitch Fix in the 1st quarter worth about $36,000. Glenmede Trust Co. NA bought a new stake in shares of Stitch Fix during the first quarter valued at about $166,000. Royal Bank of Canada increased its position in shares of Stitch Fix by 984.1% during the first quarter. Royal Bank of Canada now owns 119,230 shares of the company's stock valued at $394,000 after buying an additional 108,232 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Stitch Fix by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,418,196 shares of the company's stock worth $8,004,000 after buying an additional 142,909 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Stitch Fix in the first quarter worth about $47,000. 71.04% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
SFIX has been the topic of several recent research reports. Northland Securities began coverage on shares of Stitch Fix in a report on Thursday, May 28th. They set an "outperform" rating and a $5.00 price objective on the stock. Wall Street Zen downgraded shares of Stitch Fix from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings lowered shares of Stitch Fix from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, June 12th. William Blair restated a "mixed" rating on shares of Stitch Fix in a research note on Friday, March 6th. Finally, Telsey Advisory Group cut their price objective on shares of Stitch Fix from $6.00 to $5.00 and set a "market perform" rating for the company in a report on Thursday, March 12th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $5.12.
Check Out Our Latest Stock Analysis on SFIX
About Stitch Fix
(
Get Free Report)
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.
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