Charles Schwab Investment Management Inc. Sells 335,898 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Charles Schwab Investment Management Inc. lowered its stake in Stitch Fix, Inc. (NASDAQ:SFIX) by 18.3% in the 3rd quarter, Holdings Channel reports. The firm owned 1,497,360 shares of the company’s stock after selling 335,898 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Stitch Fix were worth $4,223,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SFIX. Disciplined Growth Investors Inc. MN raised its holdings in shares of Stitch Fix by 34.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 9,273,817 shares of the company’s stock valued at $38,486,000 after acquiring an additional 2,396,920 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Stitch Fix by 32.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock valued at $1,408,000 after acquiring an additional 121,084 shares in the last quarter. CWM LLC raised its holdings in shares of Stitch Fix by 132.5% in the 2nd quarter. CWM LLC now owns 11,867 shares of the company’s stock valued at $49,000 after acquiring an additional 6,762 shares in the last quarter. Hodges Capital Management Inc. raised its holdings in shares of Stitch Fix by 286.2% in the 2nd quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock valued at $10,421,000 after acquiring an additional 1,860,950 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Stitch Fix by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after acquiring an additional 465,900 shares in the last quarter. Institutional investors own 71.04% of the company’s stock.

Insider Buying and Selling at Stitch Fix

In related news, Director Katrina Lake sold 725,002 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total transaction of $4,190,511.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.95% of the stock is currently owned by corporate insiders.

Stitch Fix Price Performance

SFIX stock opened at $3.92 on Friday. Stitch Fix, Inc. has a 1-year low of $2.06 and a 1-year high of $6.99. The business has a fifty day moving average price of $3.72 and a 200-day moving average price of $3.72. The stock has a market capitalization of $497.20 million, a P/E ratio of -4.72 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last posted 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. The company had revenue of $318.82 million during the quarter, compared to analysts’ expectations of $306.88 million. Stitch Fix had a negative return on equity of 32.21% and a negative net margin of 7.71%. Stitch Fix’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) earnings per share. As a group, analysts anticipate that Stitch Fix, Inc. will post -0.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SFIX has been the topic of a number of research reports. Canaccord Genuity Group raised their price objective on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a report on Wednesday. Telsey Advisory Group raised their price objective on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, UBS Group raised their price objective on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, Stitch Fix currently has a consensus rating of “Hold” and an average 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.