Stitch Fix (NASDAQ:SFIX) Stock Price Down 6.1% – Should You Sell?
by Michael Walen · The Markets DailyShares of Stitch Fix, Inc. (NASDAQ:SFIX – Get Free Report) traded down 6.1% during trading on Wednesday . The stock traded as low as $5.26 and last traded at $5.2950. 328,362 shares were traded during trading, a decline of 84% from the average session volume of 2,108,296 shares. The stock had previously closed at $5.64.
Wall Street Analyst Weigh In
SFIX has been the topic of a number of research analyst reports. Wall Street Zen cut Stitch Fix from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Stitch Fix in a research note on Thursday, January 22nd. Zacks Research lowered shares of Stitch Fix from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price target on shares of Stitch Fix in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.00.
Get Our Latest Research Report on Stitch Fix
Stitch Fix Price Performance
The company has a 50-day simple moving average of $5.06 and a two-hundred day simple moving average of $4.87.
Stitch Fix (NASDAQ:SFIX – Get Free Report) last posted its quarterly earnings data on Thursday, December 4th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $342.13 million for the quarter, compared to analysts’ expectations of $335.74 million. Stitch Fix had a negative net margin of 2.23% and a negative return on equity of 14.38%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. As a group, equities analysts expect that Stitch Fix, Inc. will post -0.44 EPS for the current year.
Insider Activity at Stitch Fix
In other news, insider Casey O’connor sold 83,641 shares of Stitch Fix stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $5.16, for a total transaction of $431,587.56. Following the completion of the sale, the insider directly owned 542,071 shares in the company, valued at approximately $2,797,086.36. This trade represents a 13.37% 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 this link. Also, Director Katrina Lake sold 303,450 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $5.19, for a total value of $1,574,905.50. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 485,663 shares of company stock valued at $2,534,382. Insiders own 16.09% of the company’s stock.
Hedge Funds Weigh In On Stitch Fix
Institutional investors and hedge funds have recently made changes to their positions in the stock. Fund 1 Investments LLC increased its stake in Stitch Fix by 44.6% during the 2nd quarter. Fund 1 Investments LLC now owns 9,943,821 shares of the company’s stock valued at $36,792,000 after buying an additional 3,064,901 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Stitch Fix by 302.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,897,171 shares of the company’s stock valued at $12,603,000 after acquiring an additional 2,178,156 shares during the period. Marshall Wace LLP increased its position in shares of Stitch Fix by 4,898.1% during the 2nd quarter. Marshall Wace LLP now owns 2,010,034 shares of the company’s stock worth $7,437,000 after purchasing an additional 1,969,818 shares in the last quarter. Working Capital Advisors UK Ltd. increased its position in Stitch Fix by 15.9% in the third quarter. Working Capital Advisors UK Ltd. now owns 11,046,077 shares of the company’s stock worth $48,050,000 after purchasing an additional 1,512,475 shares during the period. Finally, Shay Capital LLC bought a new stake in Stitch Fix in the second quarter valued at approximately $3,570,000. 71.04% of the stock is owned by institutional investors and hedge funds.
About Stitch Fix
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.