Katrina Lake Sells 303,450 Shares of Stitch Fix (NASDAQ:SFIX) Stock

Stitch Fix, Inc. (NASDAQ:SFIX) Director Katrina Lake sold 303,450 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $5.19, for a total transaction of $1,574,905.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Stitch Fix Stock Up 3.0%

NASDAQ:SFIX opened at $5.42 on Thursday. Stitch Fix, Inc. has a 12-month low of $2.60 and a 12-month high of $6.99. The stock’s fifty day simple moving average is $4.36 and its 200-day simple moving average is $4.59. The firm has a market capitalization of $726.88 million, a P/E ratio of -33.88 and a beta of 2.22.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Thursday, December 4th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Stitch Fix had a negative return on equity of 14.38% and a negative net margin of 2.23%.The firm had revenue of $342.13 million for the quarter, compared to analyst estimates of $335.74 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Stitch Fix, Inc. will post -0.44 earnings per share for the current year.

Institutional Trading of Stitch Fix

Several hedge funds and other institutional investors have recently modified their holdings of SFIX. Russell Investments Group Ltd. raised its holdings in shares of Stitch Fix by 29.2% in the first quarter. Russell Investments Group Ltd. now owns 328,342 shares of the company’s stock valued at $1,067,000 after purchasing an additional 74,142 shares during the last quarter. Caption Management LLC acquired a new position in Stitch Fix during the first quarter worth $216,000. Nuveen LLC bought a new position in Stitch Fix in the first quarter valued at $4,159,000. Vanguard Group Inc. increased its stake in Stitch Fix by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 6,982,536 shares of the company’s stock valued at $22,693,000 after buying an additional 513,422 shares during the last quarter. Finally, Graham Capital Management L.P. increased its stake in Stitch Fix by 133.3% in the 1st quarter. Graham Capital Management L.P. now owns 306,765 shares of the company’s stock valued at $997,000 after buying an additional 175,287 shares during the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SFIX. Sanford C. Bernstein reissued a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a research note on Thursday, September 25th. Zacks Research cut shares of Stitch Fix from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. UBS Group reiterated a “neutral” rating on shares of Stitch Fix in a report on Wednesday, September 17th. Telsey Advisory Group restated a “market perform” rating and issued a $6.00 price target on shares of Stitch Fix in a report on Monday, December 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Stitch Fix in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.00.

About Stitch Fix

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.