Raymond James Financial Inc. Takes $134,000 Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Raymond James Financial Inc. acquired a new stake in Stitch Fix, Inc. (NASDAQ:SFIX) during the 4th quarter, Holdings Channel.com reports. The firm acquired 30,996 shares of the company’s stock, valued at approximately $134,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ieq Capital LLC purchased a new stake in Stitch Fix during the 4th quarter worth about $299,000. Geode Capital Management LLC boosted its position in shares of Stitch Fix by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,459,014 shares of the company’s stock valued at $10,601,000 after purchasing an additional 164,089 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Stitch Fix by 72.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company’s stock valued at $455,000 after purchasing an additional 67,892 shares during the period. Vanguard Group Inc. boosted its position in shares of Stitch Fix by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 6,469,114 shares of the company’s stock valued at $27,882,000 after purchasing an additional 457,568 shares during the period. Finally, Norges Bank acquired a new stake in Stitch Fix during the 4th quarter worth approximately $3,183,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Insider Transactions at Stitch Fix

In related news, insider Casey O’connor sold 50,000 shares of Stitch Fix stock in a transaction on Monday, April 14th. The stock was sold at an average price of $3.04, for a total value of $152,000.00. Following the transaction, the insider now owns 575,755 shares in the company, valued at approximately $1,750,295.20. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.95% of the company’s stock.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, Stitch Fix presently has an average rating of “Hold” and a consensus price target of $4.50.

Stitch Fix Price Performance

NASDAQ SFIX opened at $4.44 on Wednesday. Stitch Fix, Inc. has a 1-year low of $2.18 and a 1-year high of $6.99. The company has a market capitalization of $571.86 million, a P/E ratio of -5.35 and a beta of 2.00. The business has a 50 day moving average price of $3.39 and a 200 day moving average price of $4.10.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. The company had revenue of $312.11 million during the quarter, compared to the consensus estimate of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. Stitch Fix’s revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) earnings per share. On average, research analysts expect that Stitch Fix, Inc. will post -0.44 earnings per share for the current fiscal year.

Stitch Fix 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.