Stitch Fix (NASDAQ:SFIX) Stock Price Down 6.2% Following Insider Selling

Stitch Fix, Inc. (NASDAQ:SFIX) shares fell 6.2% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $4.34 and last traded at $4.36. 1,505,267 shares were traded during trading, a decline of 27% from the average session volume of 2,066,440 shares. The stock had previously closed at $4.65.

Specifically, Director Katrina Lake sold 725,002 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total value of $4,190,511.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Several brokerages have issued reports on SFIX. Telsey Advisory Group upped their price target on shares of Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday. UBS Group upped their target price on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group raised their price target on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday. Two equities research 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.com, Stitch Fix currently has a consensus rating of “Hold” and an average price target of $3.96.

Stitch Fix Trading Down 15.7 %

The stock has a market capitalization of $497.20 million, a PE ratio of -4.72 and a beta of 1.99. The company’s 50 day simple moving average is $3.72 and its 200 day simple moving average is $3.73.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative return on equity of 32.21% 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 quarter in the previous year, the business earned ($0.30) earnings per share. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, analysts predict that Stitch Fix, Inc. will post -0.61 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Pallas Capital Advisors LLC acquired a new stake in shares of Stitch Fix in the second quarter worth approximately $48,000. Caprock Group LLC purchased a new position in Stitch Fix during the third quarter worth approximately $33,000. CWM LLC grew its stake in shares of Stitch Fix by 132.5% during the 2nd quarter. CWM LLC now owns 11,867 shares of the company’s stock valued at $49,000 after buying an additional 6,762 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Stitch Fix during the 3rd quarter valued at $36,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Stitch Fix during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Company 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.