Stitch Fix (NASDAQ:SFIX) Shares Down 4.4% – Time to Sell?

Stitch Fix, Inc. (NASDAQ:SFIX)’s stock price traded down 4.4% during mid-day trading on Thursday . The stock traded as low as $5.04 and last traded at $5.04. 490,724 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 2,833,298 shares. The stock had previously closed at $5.27.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Telsey Advisory Group raised their price objective on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Finally, UBS Group raised their price target on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.96.

Stitch Fix Trading Down 3.4 %

The company has a market capitalization of $640.54 million, a price-to-earnings ratio of -6.08 and a beta of 1.99. The company’s 50 day simple moving average is $4.39 and its 200-day simple moving average is $3.89.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. Stitch Fix’s revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) earnings per share. Sell-side analysts anticipate that Stitch Fix, Inc. will post -0.44 EPS for the current year.

Insiders Place Their Bets

In related news, insider Anthony Bacos sold 16,720 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $4.61, for a total value of $77,079.20. Following the completion of the sale, the insider now directly owns 913,962 shares in the company, valued at approximately $4,213,364.82. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katrina Lake sold 725,002 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total transaction of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stitch Fix

A number of large investors have recently modified their holdings of SFIX. Disciplined Growth Investors Inc. MN increased its position in Stitch Fix by 48.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after purchasing an additional 4,460,668 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Stitch Fix during the third quarter worth approximately $2,862,000. Hodges Capital Management Inc. increased its position in shares of Stitch Fix by 34.4% in the third quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock worth $9,518,000 after acquiring an additional 864,100 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Stitch Fix by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after acquiring an additional 465,900 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Stitch Fix by 2,253.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock valued at $414,000 after acquiring an additional 140,515 shares in the last quarter. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

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.