Insider Selling: Stitch Fix, Inc. (NASDAQ:SFIX) Director Sells $4,190,511.56 in Stock

Stitch Fix, Inc. (NASDAQ:SFIX) Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Stitch Fix Stock Performance

Stitch Fix stock opened at $3.92 on Monday. The stock has a market cap of $497.21 million, a PE ratio of -4.72 and a beta of 1.99. Stitch Fix, Inc. has a one year low of $2.06 and a one year high of $6.99. The stock has a fifty day moving average of $3.72 and a 200 day moving average of $3.75.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The business 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 32.71% and a negative net margin of 7.71%. The business’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.30) earnings per share. As a group, sell-side analysts predict that Stitch Fix, Inc. will post -0.46 EPS for the current fiscal year.

Institutional Trading of Stitch Fix

Institutional investors have recently made changes to their positions in the business. Caprock Group LLC bought a new position in Stitch Fix during the third quarter valued at approximately $33,000. Wealth Enhancement Advisory Services LLC bought a new position in Stitch Fix during the third quarter valued at approximately $36,000. Meeder Asset Management Inc. bought a new position in Stitch Fix during the third quarter valued at approximately $44,000. Pallas Capital Advisors LLC bought a new position in Stitch Fix during the second quarter valued at approximately $48,000. Finally, CWM LLC boosted its stake in Stitch Fix by 132.5% during the second quarter. CWM LLC now owns 11,867 shares of the company’s stock valued at $49,000 after buying an additional 6,762 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SFIX. UBS Group boosted their target price on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Telsey Advisory Group upped their price target on Stitch Fix from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their price target on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the stock 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.