Stitch Fix, Inc. (NASDAQ:SFIX) Shares Sold by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC lessened its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 67.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 77,803 shares of the company’s stock after selling 163,277 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Stitch Fix were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Maple Rock Capital Partners Inc. acquired a new stake in shares of Stitch Fix in the 1st quarter valued at approximately $8,994,000. Hodges Capital Management Inc. boosted its position in shares of Stitch Fix by 286.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock worth $10,421,000 after purchasing an additional 1,860,950 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Stitch Fix by 11.7% during the 2nd 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 during the period. Los Angeles Capital Management LLC lifted its stake in shares of Stitch Fix by 673.2% in the first quarter. Los Angeles Capital Management LLC now owns 516,782 shares of the company’s stock valued at $1,364,000 after purchasing an additional 449,948 shares during the period. Finally, Fund 1 Investments LLC boosted its holdings in Stitch Fix by 362.1% during the fourth quarter. Fund 1 Investments LLC now owns 204,960 shares of the company’s stock worth $732,000 after buying an additional 160,604 shares in the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Truist Financial boosted their target price on Stitch Fix from $3.50 to $4.00 and gave the stock a “hold” rating in a research report on Wednesday, June 5th. Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a research report on Wednesday, September 25th. Wedbush restated a “neutral” rating and set a $3.00 target price on shares of Stitch Fix in a report on Wednesday, June 5th. UBS Group upped their price target on shares of Stitch Fix from $2.80 to $3.80 and gave the company a “neutral” rating in a report on Monday, July 8th. Finally, Canaccord Genuity Group lowered their price target on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating on the stock in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.36.

Insiders Place Their Bets

In other Stitch Fix news, CEO Matt Baer sold 44,230 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.00, for a total transaction of $221,150.00. Following the sale, the chief executive officer now owns 973,769 shares in the company, valued at $4,868,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Katrina Lake sold 537,007 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $5.01, for a total value of $2,690,405.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Matt Baer sold 44,230 shares of Stitch Fix stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.00, for a total value of $221,150.00. Following the sale, the chief executive officer now directly owns 973,769 shares in the company, valued at approximately $4,868,845. The disclosure for this sale can be found here. Insiders sold a total of 626,663 shares of company stock valued at $3,101,692 in the last ninety days. Corporate insiders own 25.90% of the company’s stock.

Stitch Fix Stock Performance

Shares of NASDAQ SFIX opened at $2.84 on Monday. Stitch Fix, Inc. has a 1 year low of $2.06 and a 1 year high of $5.05. The stock’s 50-day simple moving average is $3.76 and its 200-day simple moving average is $3.24. The firm has a market cap of $347.45 million, a price-to-earnings ratio of -2.78 and a beta of 1.92.

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.