Stitch Fix (NASDAQ:SFIX) Shares Down 6.2% After Insider Selling

Stitch Fix, Inc. (NASDAQ:SFIX)’s share price traded down 6.2% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $4.34 and last traded at $4.36. 1,505,267 shares changed hands during trading, a decline of 27% from the average session volume of 2,066,440 shares. The stock had previously closed at $4.65.

Specifically, Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total transaction of $4,190,511.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Canaccord Genuity Group raised their price target on shares of Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Telsey Advisory Group increased their price objective 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. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.96.

Stitch Fix Trading Down 15.7 %

The stock has a market cap of $497.20 million, a P/E ratio of -4.72 and a beta of 1.99. The company’s 50 day moving average price is $3.72 and its two-hundred day moving average price is $3.73.

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

Institutional Investors Weigh In On Stitch Fix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in Stitch Fix by 68.0% during the 3rd quarter. Franklin Resources Inc. now owns 144,261 shares of the company’s stock worth $391,000 after acquiring an additional 58,412 shares during the period. Virtu Financial LLC purchased a new position in shares of Stitch Fix in the third quarter valued at $196,000. Barclays PLC grew its holdings in shares of Stitch Fix by 30.7% in the third quarter. Barclays PLC now owns 168,953 shares of the company’s stock valued at $475,000 after purchasing an additional 39,713 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Stitch Fix by 3.8% in the third quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company’s stock valued at $6,473,000 after purchasing an additional 83,220 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in shares of Stitch Fix by 48.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock valued at $38,731,000 after purchasing an additional 4,460,668 shares in the last quarter. Institutional investors own 71.04% of the company’s stock.

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.