Stitch Fix (NASDAQ:SFIX) Trading Down 4.4% – What’s Next?

Stitch Fix, Inc. (NASDAQ:SFIX) shares dropped 4.4% on Thursday . The company traded as low as $5.04 and last traded at $5.04. Approximately 490,724 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,833,298 shares. The stock had previously closed at $5.27.

Analysts Set New Price Targets

A number of research firms recently weighed in on SFIX. Telsey Advisory Group increased their price objective on 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 upped their target price on shares of 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 raised their price objective on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.96.

Stitch Fix Stock Performance

The company has a fifty day moving average price of $4.34 and a 200-day moving average price of $3.87. The firm has a market capitalization of $665.28 million, a PE ratio of -6.33 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $306.88 million. During the same quarter last year, the business posted ($0.30) earnings per share. The firm’s revenue was down 12.6% on a year-over-year basis. On average, equities analysts predict that Stitch Fix, Inc. will post -0.44 earnings per share for the current year.

Insider Transactions at Stitch Fix

In other Stitch Fix news, Director Katrina Lake sold 725,002 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony Bacos sold 16,720 shares of Stitch Fix stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $4.61, for a total transaction of $77,079.20. Following the sale, the insider now owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.95% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Stitch Fix by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 314,625 shares of the company’s stock valued at $1,306,000 after acquiring an additional 52,538 shares during the period. Rhumbline Advisers increased its holdings in shares of Stitch Fix by 15.2% in the 2nd quarter. Rhumbline Advisers now owns 146,676 shares of the company’s stock valued at $609,000 after purchasing an additional 19,367 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Stitch Fix by 16.2% in the second quarter. American Century Companies Inc. now owns 122,215 shares of the company’s stock valued at $507,000 after purchasing an additional 17,027 shares during the period. Federated Hermes Inc. boosted its holdings in Stitch Fix by 7.7% during the second quarter. Federated Hermes Inc. now owns 94,624 shares of the company’s stock worth $393,000 after buying an additional 6,739 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Stitch Fix by 11.7% during the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock worth $18,395,000 after buying an additional 465,900 shares during the period. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

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.