Stitch Fix (NASDAQ:SFIX) Shares Down 6.3% – Here’s What Happened

Stitch Fix, Inc. (NASDAQ:SFIX) was down 6.3% on Friday . The company traded as low as $3.91 and last traded at $3.9350. Approximately 708,254 shares traded hands during trading, a decline of 66% from the average daily volume of 2,063,516 shares. The stock had previously closed at $4.20.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SFIX shares. Telsey Advisory Group decreased their price objective on Stitch Fix from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, March 12th. Northland Securities started coverage on Stitch Fix in a report on Thursday, May 28th. They set an “outperform” rating and a $5.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stitch Fix in a report on Tuesday, April 21st. William Blair reaffirmed a “mixed” rating on shares of Stitch Fix in a report on Friday, March 6th. Finally, UBS Group lifted their price objective on Stitch Fix from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.13.

Stitch Fix Trading Down 8.3%

The firm has a market capitalization of $525.60 million, a price-to-earnings ratio of -29.62 and a beta of 2.31. The firm has a fifty day moving average price of $3.50 and a 200 day moving average price of $4.06.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Wednesday, June 10th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.05. The business had revenue of $340.28 million for the quarter, compared to the consensus estimate of $333.51 million. Stitch Fix had a negative return on equity of 9.30% and a negative net margin of 1.43%.Stitch Fix’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) EPS. As a group, equities analysts predict that Stitch Fix, Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity at Stitch Fix

In other news, insider Casey O’connor sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3.08, for a total value of $184,800.00. Following the transaction, the insider directly owned 480,334 shares of the company’s stock, valued at $1,479,428.72. The trade was a 11.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Aufderhaar sold 65,709 shares of the business’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 in the company, valued at $3,640,134.33. The trade was a 5.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SFIX. Working Capital Advisors UK Ltd. lifted its holdings in Stitch Fix by 15.9% during the 3rd quarter. Working Capital Advisors UK Ltd. now owns 11,046,077 shares of the company’s stock worth $48,050,000 after buying an additional 1,512,475 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Stitch Fix by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,682,725 shares of the company’s stock worth $33,420,000 after buying an additional 240,584 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Stitch Fix by 73.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,664,995 shares of the company’s stock worth $19,241,000 after buying an additional 1,549,902 shares in the last quarter. State Street Corp lifted its holdings in Stitch Fix by 18.6% during the 4th quarter. State Street Corp now owns 3,239,044 shares of the company’s stock worth $17,005,000 after buying an additional 508,588 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Stitch Fix by 302.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,897,171 shares of the company’s stock worth $12,603,000 after buying an additional 2,178,156 shares in the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

Stitch Fix Company 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.