Insider Selling: Stitch Fix Inc (NASDAQ:SFIX) COO Sells 15,000 Shares of Stock

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Stitch Fix Inc (NASDAQ:SFIX) COO Mike C. Smith sold 15,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $23.41, for a total value of $351,150.00.

SFIX traded up $0.96 during trading on Thursday, hitting $22.78. 2,123,509 shares of the stock were exchanged, compared to its average volume of 2,552,150. The firm has a 50 day simple moving average of $19.73 and a 200 day simple moving average of $24.64. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 63.28, a P/E/G ratio of 32.57 and a beta of 3.33. Stitch Fix Inc has a 1 year low of $16.05 and a 1 year high of $37.72.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $432.10 million for the quarter, compared to the consensus estimate of $432.44 million. Stitch Fix had a return on equity of 10.11% and a net margin of 2.34%. Stitch Fix’s quarterly revenue was up 35.8% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. As a group, equities analysts forecast that Stitch Fix Inc will post 0.02 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its position in shares of Stitch Fix by 95.6% in the 1st quarter. Marshall Wace LLP now owns 22,778 shares of the company’s stock worth $643,000 after buying an additional 11,132 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Stitch Fix during the first quarter valued at approximately $231,000. First Trust Advisors LP boosted its position in shares of Stitch Fix by 25.4% during the first quarter. First Trust Advisors LP now owns 104,279 shares of the company’s stock valued at $2,944,000 after purchasing an additional 21,153 shares in the last quarter. Weaver Consulting Group bought a new stake in shares of Stitch Fix during the first quarter valued at approximately $28,000. Finally, Valeo Financial Advisors LLC boosted its position in shares of Stitch Fix by 30.3% during the second quarter. Valeo Financial Advisors LLC now owns 2,159 shares of the company’s stock valued at $69,000 after purchasing an additional 502 shares in the last quarter. Institutional investors own 39.43% of the company’s stock.

Several equities research analysts have recently weighed in on SFIX shares. Barclays reduced their price target on Stitch Fix from $32.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Zacks Investment Research downgraded Stitch Fix from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. TheStreet downgraded Stitch Fix from a “c-” rating to a “d” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. reduced their price target on Stitch Fix from $34.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, Needham & Company LLC started coverage on Stitch Fix in a report on Monday, July 1st. They issued a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Stitch Fix currently has an average rating of “Hold” and an average target price of $28.64.

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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