UBS Group AG Cuts Stock Position in Stitch Fix, Inc. $SFIX

UBS Group AG cut its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 28.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 653,719 shares of the company’s stock after selling 259,840 shares during the quarter. UBS Group AG’s holdings in Stitch Fix were worth $3,432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in shares of Stitch Fix by 52.1% during the fourth quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock worth $51,000 after buying an additional 3,329 shares in the last quarter. Pallas Capital Advisors LLC grew its position in shares of Stitch Fix by 32.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 14,085 shares of the company’s stock worth $74,000 after buying an additional 3,428 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Stitch Fix by 7.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock worth $199,000 after buying an additional 3,993 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Stitch Fix by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock worth $147,000 after buying an additional 4,303 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Stitch Fix during the third quarter worth about $32,000. 71.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SFIX has been the subject of a number of analyst reports. UBS Group lowered their price objective on Stitch Fix from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Wall Street Zen downgraded Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Stitch Fix in a research report on Tuesday, April 21st. William Blair reissued a “mixed” rating on shares of Stitch Fix in a research report on Friday, March 6th. Finally, Telsey Advisory Group lowered their price objective on Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, March 12th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $5.00.

Stitch Fix Price Performance

Shares of SFIX opened at $3.33 on Monday. The stock has a 50 day moving average price of $3.41 and a 200 day moving average price of $4.12. The company has a market capitalization of $454.61 million, a price-to-earnings ratio of -25.62 and a beta of 2.33. Stitch Fix, Inc. has a 52-week low of $2.95 and a 52-week high of $5.94.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $341.30 million during the quarter, compared to the consensus estimate of $334.74 million. Stitch Fix had a negative return on equity of 12.23% and a negative net margin of 1.89%.The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, equities analysts anticipate that Stitch Fix, Inc. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO David Aufderhaar sold 65,709 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $3.09, for a total value of $203,040.81. Following the completion of the transaction, the chief financial officer directly owned 1,178,037 shares of the company’s stock, valued at $3,640,134.33. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Casey O’connor sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3.08, for a total value of $184,800.00. Following the completion of the transaction, the insider directly owned 480,334 shares of the company’s stock, valued at $1,479,428.72. This trade represents a 11.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.09% of the company’s stock.

Stitch Fix Profile

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.