Insider Selling: Stitch Fix, Inc. (NASDAQ:SFIX) Insider Sells 16,720 Shares of Stock

Stitch Fix, Inc. (NASDAQ:SFIX) insider Anthony Bacos sold 16,720 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $4.61, for a total value of $77,079.20. Following the completion of the sale, the insider now owns 913,962 shares of the company’s stock, valued at $4,213,364.82. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stitch Fix Stock Performance

Stitch Fix stock opened at $3.71 on Friday. The company has a 50 day moving average price of $3.81 and a 200 day moving average price of $3.77. Stitch Fix, Inc. has a 52 week low of $2.06 and a 52 week high of $6.99. The firm has a market capitalization of $470.57 million, a price-to-earnings ratio of -4.47 and a beta of 1.99.

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 for the quarter, compared to the consensus estimate of $306.88 million. During the same quarter in the previous year, the company posted ($0.30) earnings per share. Stitch Fix’s revenue for the quarter was down 12.6% compared to the same quarter last year. Equities analysts forecast that Stitch Fix, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Stitch Fix

Several institutional investors have recently made changes to their positions in the stock. Pallas Capital Advisors LLC acquired a new position in Stitch Fix in the 2nd quarter valued at approximately $48,000. Caprock Group LLC acquired a new position in shares of Stitch Fix in the third quarter worth $33,000. CWM LLC raised its holdings in shares of Stitch Fix by 132.5% during the second quarter. CWM LLC now owns 11,867 shares of the company’s stock worth $49,000 after acquiring an additional 6,762 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Stitch Fix during the third quarter valued at $36,000. Finally, Meeder Asset Management Inc. purchased a new position in Stitch Fix in the third quarter valued at about $44,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SFIX has been the subject of several research 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 research note on Wednesday, December 11th. Canaccord Genuity Group boosted their target price on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, UBS Group raised their target price on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.