Stitch Fix, Inc. (NASDAQ:SFIX) Shares Sold by State Street Corp

State Street Corp cut its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 0.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,728,529 shares of the company’s stock after selling 6,475 shares during the period. State Street Corp’s holdings in Stitch Fix were worth $4,874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caprock Group LLC acquired a new position in shares of Stitch Fix during the 3rd quarter worth about $33,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Stitch Fix during the 3rd quarter worth approximately $36,000. Meeder Asset Management Inc. acquired a new position in shares of Stitch Fix during the third quarter valued at approximately $44,000. CWM LLC lifted its position in shares of Stitch Fix by 112.1% in the third quarter. CWM LLC now owns 25,175 shares of the company’s stock valued at $71,000 after acquiring an additional 13,308 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Stitch Fix by 32.1% in the third quarter. Creative Planning now owns 25,477 shares of the company’s stock valued at $72,000 after acquiring an additional 6,194 shares in the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stitch Fix news, insider Anthony Bacos sold 16,720 shares of Stitch Fix stock in a transaction dated 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 transaction, the insider now directly owns 913,962 shares of the company’s stock, valued at $4,213,364.82. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Katrina Lake sold 725,002 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is currently owned by corporate insiders.

Stitch Fix Price Performance

Stitch Fix stock opened at $4.15 on Monday. Stitch Fix, Inc. has a 1-year low of $2.06 and a 1-year high of $6.99. The stock has a market cap of $526.38 million, a price-to-earnings ratio of -5.00 and a beta of 1.99. The firm has a 50 day simple moving average of $3.94 and a 200-day simple moving average of $3.79.

Stitch Fix (NASDAQ:SFIX) last posted its earnings results 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 32.71% and a negative net margin of 7.71%. The company 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 business earned ($0.30) earnings per share. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. Equities analysts expect that Stitch Fix, Inc. will post -0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SFIX. UBS Group boosted their price target on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group upped 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, Telsey Advisory Group raised their price target on shares of Stitch Fix from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.96.

Stitch Fix 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.