Insider Selling: Stitch Fix, Inc. (NASDAQ:SFIX) Director Sells 725,002 Shares of Stock

Stitch Fix, Inc. (NASDAQ:SFIX) Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Stitch Fix Trading Down 15.7 %

Shares of SFIX opened at $3.92 on Monday. Stitch Fix, Inc. has a 52 week low of $2.06 and a 52 week high of $6.99. The firm has a market cap of $497.21 million, a price-to-earnings ratio of -4.72 and a beta of 1.99. The stock has a 50 day moving average of $3.72 and a 200-day moving average of $3.75.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The business had revenue of $318.82 million during the quarter, compared to the consensus estimate of $306.88 million. During the same period in the previous year, the business earned ($0.30) EPS. The business’s quarterly revenue was down 12.6% on a year-over-year basis. On average, sell-side analysts predict that Stitch Fix, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SFIX. Disciplined Growth Investors Inc. MN grew its stake in shares of Stitch Fix by 48.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after purchasing an additional 4,460,668 shares in the last quarter. Hodges Capital Management Inc. grew its stake in shares of Stitch Fix by 34.4% in the third quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock worth $9,518,000 after purchasing an additional 864,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Stitch Fix by 32.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock worth $1,408,000 after purchasing an additional 121,084 shares in the last quarter. CWM LLC grew its stake in shares of Stitch Fix by 132.5% in the second quarter. CWM LLC now owns 11,867 shares of the company’s stock worth $49,000 after purchasing an additional 6,762 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Stitch Fix by 11.7% in the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock worth $18,395,000 after purchasing an additional 465,900 shares in the last quarter. 71.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SFIX has been the topic of several analyst reports. Telsey Advisory Group raised their target price on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. UBS Group raised their target price on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group raised their target price on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.96.

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.