JPMorgan Chase & Co. Grows Holdings in Stitch Fix, Inc. (NASDAQ:SFIX)

JPMorgan Chase & Co. lifted its position in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 72.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 161,225 shares of the company’s stock after purchasing an additional 67,892 shares during the period. JPMorgan Chase & Co.’s holdings in Stitch Fix were worth $455,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SFIX. Disciplined Growth Investors Inc. MN raised its holdings in Stitch Fix by 48.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after purchasing an additional 4,460,668 shares during the period. Hodges Capital Management Inc. raised its stake in shares of Stitch Fix by 34.4% during the 3rd quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock worth $9,518,000 after buying an additional 864,100 shares during the period. Geode Capital Management LLC lifted its position in shares of Stitch Fix by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company’s stock valued at $6,473,000 after buying an additional 83,220 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Stitch Fix in the 3rd quarter valued at $2,862,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 worth $1,408,000 after acquiring an additional 121,084 shares in the last quarter. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Stock Performance

NASDAQ SFIX opened at $4.85 on Wednesday. The stock’s fifty day moving average is $4.55 and its two-hundred day moving average is $3.91. The firm has a market capitalization of $615.17 million, a P/E ratio of -5.84 and a beta of 1.99. Stitch Fix, Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $6.99.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The firm had revenue of $318.82 million during the quarter, compared to analyst estimates of $306.88 million. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Stitch Fix’s quarterly revenue was down 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Stitch Fix, Inc. will post -0.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SFIX. Telsey Advisory Group increased their price objective on shares of Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. UBS Group lifted their price objective on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group increased their target price on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a report 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.96.

Insider Buying and Selling at Stitch Fix

In other news, Director Katrina Lake sold 725,002 shares of the business’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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony Bacos sold 16,720 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $4.61, for a total transaction of $77,079.20. Following 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 disclosure for this sale can be found here. 16.95% of the stock is currently owned by corporate insiders.

Stitch Fix Company 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.