Picton Mahoney Asset Management acquired a new position in Stitch Fix Inc (NASDAQ:SFIX) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 25,700 shares of the company’s stock, valued at approximately $1,126,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. grew its stake in shares of Stitch Fix by 18.5% in the 2nd quarter. Baillie Gifford & Co. now owns 2,290,113 shares of the company’s stock worth $62,841,000 after purchasing an additional 357,686 shares during the last quarter. Light Street Capital Management LLC grew its stake in shares of Stitch Fix by 18.6% in the 2nd quarter. Light Street Capital Management LLC now owns 2,010,516 shares of the company’s stock worth $55,169,000 after purchasing an additional 315,101 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Stitch Fix by 20.2% in the 3rd quarter. Penserra Capital Management LLC now owns 721,068 shares of the company’s stock worth $31,561,000 after purchasing an additional 121,284 shares during the last quarter. Pier Capital LLC grew its stake in shares of Stitch Fix by 52.8% in the 2nd quarter. Pier Capital LLC now owns 307,150 shares of the company’s stock worth $8,428,000 after purchasing an additional 106,101 shares during the last quarter. Finally, Scopus Asset Management L.P. acquired a new position in shares of Stitch Fix in the 2nd quarter worth approximately $6,860,000. 21.45% of the stock is currently owned by institutional investors.
Shares of SFIX opened at $26.26 on Friday. Stitch Fix Inc has a one year low of $14.48 and a one year high of $52.44.
Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Monday, October 1st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.04 by $0.14. The company had revenue of $318.30 million during the quarter, compared to analysts’ expectations of $318.93 million. Stitch Fix had a net margin of 3.66% and a return on equity of 19.95%. The firm’s revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts expect that Stitch Fix Inc will post 0.13 EPS for the current fiscal year.
Several research analysts have commented on SFIX shares. Wells Fargo & Co started coverage on shares of Stitch Fix in a report on Thursday, August 2nd. They issued a “market perform” rating and a $30.00 target price for the company. Zacks Investment Research cut shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. SunTrust Banks started coverage on shares of Stitch Fix in a report on Friday, August 10th. They issued a “buy” rating and a $38.00 target price for the company. ValuEngine upgraded shares of Stitch Fix from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Finally, KeyCorp reiterated a “buy” rating and issued a $53.00 target price (up from $38.00) on shares of Stitch Fix in a report on Thursday, September 13th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Stitch Fix presently has a consensus rating of “Hold” and an average price target of $33.18.
In related news, major shareholder Steven M. Spurlock sold 329,621 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $26.48, for a total transaction of $8,728,364.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mike C. Smith sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $32.69, for a total transaction of $817,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,507 shares of company stock valued at $14,531,514.
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Stitch Fix Profile
Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.
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