Picton Mahoney Asset Management acquired a new stake in shares of Stitch Fix Inc (NASDAQ:SFIX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,700 shares of the company’s stock, valued at approximately $1,126,000.
Other large investors have also recently added to or reduced their stakes in the company. Eidelman Virant Capital bought a new position in shares of Stitch Fix in the second quarter valued at approximately $2,663,000. Essex Investment Management Co. LLC bought a new position in shares of Stitch Fix in the third quarter valued at approximately $306,000. Zevenbergen Capital Investments LLC raised its position in shares of Stitch Fix by 63.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 67,220 shares of the company’s stock valued at $1,845,000 after purchasing an additional 26,070 shares during the period. Pier Capital LLC raised its position in shares of Stitch Fix by 52.8% in the second quarter. Pier Capital LLC now owns 307,150 shares of the company’s stock valued at $8,428,000 after purchasing an additional 106,101 shares during the period. Finally, Raymond James & Associates bought a new position in shares of Stitch Fix in the second quarter valued at approximately $414,000. 21.45% of the stock is currently owned by institutional investors.
In related news, COO Mike C. Smith sold 25,000 shares of the business’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $25.72, for a total transaction of $643,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Steven M. Spurlock sold 329,621 shares of Stitch Fix stock in a transaction on Friday, October 5th. The stock was sold at an average price of $26.48, for a total transaction of $8,728,364.08. The disclosure for this sale can be found here. Insiders have sold 491,507 shares of company stock worth $14,531,514 in the last ninety days.
Shares of SFIX stock opened at $26.26 on Friday. Stitch Fix Inc has a 1 year low of $14.48 and a 1 year high of $52.44.
Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Monday, October 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $318.30 million for the quarter, compared to analyst estimates of $318.93 million. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts forecast that Stitch Fix Inc will post 0.13 earnings per share for the current year.
A number of research firms have recently commented on SFIX. SunTrust Banks began coverage on shares of Stitch Fix in a research report on Friday, August 10th. They issued a “buy” rating and a $38.00 price target on the stock. Zacks Investment Research lowered shares of Stitch Fix from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. KeyCorp dropped their target price on shares of Stitch Fix from $53.00 to $45.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 2nd. Piper Jaffray Companies lowered shares of Stitch Fix from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $29.00 to $43.00 in a research report on Thursday, September 20th. Finally, Wells Fargo & Co began coverage on shares of Stitch Fix in a research report on Thursday, August 2nd. They set a “market perform” rating and a $30.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $33.18.
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About Stitch Fix
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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