Stitch Fix (NASDAQ:SFIX) Trading 4.9% Higher – What’s Next?

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) shot up 4.9% during mid-day trading on Tuesday . The stock traded as high as $4.25 and last traded at $4.2050. Approximately 350,561 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,123,784 shares. The stock had previously closed at $4.01.

Analysts Set New Price Targets

Several research firms recently issued reports on SFIX. Northland Securities initiated coverage on Stitch Fix in a research note on Thursday, May 28th. They set an “outperform” rating and a $5.00 target price on the stock. UBS Group lifted their target price on Stitch Fix from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings lowered shares of Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 12th. Wall Street Zen cut shares of Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, William Blair reissued a “mixed” rating on shares of Stitch Fix in a research note on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Stitch Fix currently has an average rating of “Hold” and a consensus price target of $5.12.

Stitch Fix Trading Up 4.9%

The company has a market cap of $561.06 million, a PE ratio of -52.56 and a beta of 2.31. The company has a fifty day simple moving average of $3.60 and a two-hundred day simple moving average of $4.05.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Wednesday, June 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.05. Stitch Fix had a negative return on equity of 9.35% and a negative net margin of 1.43%.The business had revenue of $340.28 million during the quarter, compared to analysts’ expectations of $333.51 million. During the same quarter last year, the business posted ($0.06) EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Stitch Fix, Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity at Stitch Fix

In other Stitch Fix news, insider Anthony Bacos sold 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $4.15, for a total transaction of $290,500.00. Following the completion of the transaction, the insider owned 1,085,109 shares in the company, valued at $4,503,202.35. The trade was a 6.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Aufderhaar sold 65,709 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $3.09, for a total transaction of $203,040.81. Following the transaction, the chief financial officer owned 1,178,037 shares of the company’s stock, valued at $3,640,134.33. This trade represents a 5.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 195,709 shares of company stock valued at $678,341 over the last 90 days. 16.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stitch Fix

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. lifted its stake in Stitch Fix by 49.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 1,230,124 shares of the company’s stock worth $6,458,000 after purchasing an additional 404,322 shares during the last quarter. Argos Wealth Advisors LLC acquired a new position in Stitch Fix in the fourth quarter valued at approximately $362,000. Versor Investments LP increased its stake in Stitch Fix by 9.9% in the fourth quarter. Versor Investments LP now owns 114,600 shares of the company’s stock valued at $602,000 after purchasing an additional 10,300 shares during the last quarter. Bailard Inc. purchased a new position in Stitch Fix in the fourth quarter valued at approximately $225,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in Stitch Fix during the fourth quarter worth approximately $223,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Company Profile

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.