Advisory Research Inc. decreased its position in Stitch Fix Inc (NASDAQ:SFIX) by 39.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 167,867 shares of the company’s stock after selling 110,229 shares during the period. Advisory Research Inc. owned about 0.17% of Stitch Fix worth $7,348,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SFIX. IFP Advisors Inc increased its stake in shares of Stitch Fix by 2,302.5% during the third quarter. IFP Advisors Inc now owns 2,883 shares of the company’s stock worth $126,000 after purchasing an additional 2,763 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of Stitch Fix during the third quarter worth about $153,000. D.A. Davidson & CO. purchased a new stake in shares of Stitch Fix during the second quarter worth about $203,000. California Public Employees Retirement System purchased a new stake in shares of Stitch Fix during the second quarter worth about $228,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Stitch Fix during the third quarter worth about $244,000. 23.53% of the stock is owned by institutional investors.
Shares of NASDAQ SFIX opened at $26.65 on Friday. Stitch Fix Inc has a 12-month low of $18.00 and a 12-month high of $52.44. The stock has a market cap of $2.53 billion and a P/E ratio of 68.33.
Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Monday, October 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.14. Stitch Fix had a net margin of 3.66% and a return on equity of 19.95%. The company had revenue of $318.30 million during the quarter, compared to analysts’ expectations of $318.93 million. The company’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts expect that Stitch Fix Inc will post 0.13 earnings per share for the current year.
A number of analysts have recently commented on SFIX shares. ValuEngine raised shares of Stitch Fix from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Wells Fargo & Co dropped coverage on shares of Stitch Fix in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. boosted their target price on shares of Stitch Fix to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 25th. KeyCorp reissued a “buy” rating and set a $53.00 target price (up previously from $38.00) on shares of Stitch Fix in a research note on Thursday, September 13th. Finally, Stifel Nicolaus boosted their target price on shares of Stitch Fix from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $33.18.
In related news, COO Mike C. Smith sold 25,000 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $50.04, for a total transaction of $1,251,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul Yee sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $29.48, for a total transaction of $147,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 409,621 shares of company stock valued at $11,439,264. 56.97% of the stock is owned by corporate insiders.
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Stitch Fix Company 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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