Stitch Fix (NASDAQ:SFIX) Stock Price Down 6.3% – Here’s Why

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) were down 6.3% during mid-day trading on Friday . The company traded as low as $3.91 and last traded at $3.9350. Approximately 708,254 shares changed hands during trading, a decline of 66% from the average daily volume of 2,063,516 shares. The stock had previously closed at $4.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SFIX shares. William Blair restated a “mixed” rating on shares of Stitch Fix in a report on Friday, March 6th. UBS Group boosted their price target on shares of Stitch Fix from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday. Wall Street Zen lowered shares of Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Telsey Advisory Group reduced their price target on shares of Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, March 12th. Finally, Northland Securities initiated coverage on shares of Stitch Fix in a research report on Thursday, May 28th. They issued an “outperform” rating and a $5.00 price target for the company. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Stitch Fix currently has an average rating of “Hold” and an average price target of $5.13.

Stitch Fix Stock Down 9.2%

The business’s 50-day moving average price is $3.49 and its 200-day moving average price is $4.06. The firm has a market capitalization of $520.82 million, a PE ratio of -29.27 and a beta of 2.31.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Wednesday, June 10th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. Stitch Fix had a negative return on equity of 9.30% and a negative net margin of 1.43%.The company had revenue of $340.28 million during the quarter, compared to the consensus estimate of $333.51 million. During the same period last year, the business earned ($0.06) EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Stitch Fix, Inc. will post -0.19 EPS for the current fiscal year.

Insider Transactions at Stitch Fix

In other Stitch Fix news, CFO David Aufderhaar sold 65,709 shares of Stitch Fix stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $3.09, for a total value of $203,040.81. Following the completion of the sale, the chief financial officer directly owned 1,178,037 shares in the company, valued at $3,640,134.33. The trade was a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Casey O’connor sold 60,000 shares of Stitch Fix stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3.08, for a total transaction of $184,800.00. Following the completion of the sale, the insider owned 480,334 shares of the company’s stock, valued at $1,479,428.72. This trade represents a 11.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.09% of the stock is owned by company insiders.

Institutional Trading of Stitch Fix

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in Stitch Fix by 52.1% in the fourth quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock valued at $51,000 after acquiring an additional 3,329 shares during the last quarter. Caerus Investment Advisors LLC acquired a new stake in Stitch Fix in the first quarter valued at approximately $36,000. Royal Bank of Canada increased its holdings in shares of Stitch Fix by 324.6% during the 4th quarter. Royal Bank of Canada now owns 10,998 shares of the company’s stock valued at $57,000 after acquiring an additional 8,408 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Stitch Fix during the 3rd quarter valued at about $50,000. Finally, First Dallas Securities Inc. bought a new position in shares of Stitch Fix in the 1st quarter valued at approximately $38,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Company Profile

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.