Geode Capital Management LLC Has $6.47 Million Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Geode Capital Management LLC increased its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 3.8% in the third quarter, Holdings Channel.com reports. The firm owned 2,294,925 shares of the company’s stock after buying an additional 83,220 shares during the quarter. Geode Capital Management LLC’s holdings in Stitch Fix were worth $6,473,000 at the end of the most recent reporting period.

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

Stitch Fix Price Performance

Shares of NASDAQ:SFIX opened at $4.52 on Friday. Stitch Fix, Inc. has a 1 year low of $2.06 and a 1 year high of $6.99. The business’s 50-day moving average is $4.08 and its 200-day moving average is $3.82. The company has a market capitalization of $573.31 million, a price-to-earnings ratio of -5.45 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 (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The firm had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company’s revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.30) earnings per share. Analysts anticipate that Stitch Fix, Inc. will post -0.46 EPS for the current year.

Insiders Place Their Bets

In other Stitch Fix news, insider Anthony Bacos sold 16,720 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $4.61, for a total value of $77,079.20. Following the transaction, the insider now directly owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were 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. Corporate insiders own 16.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Telsey Advisory Group lifted their target price on shares of Stitch Fix from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group boosted their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Finally, UBS Group raised their target price on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.