Insider Selling: Stitch Fix Inc (SFIX) COO Sells $643,000.00 in Stock

Stitch Fix Inc (NASDAQ:SFIX) COO Mike C. Smith sold 25,000 shares of Stitch Fix stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $25.72, for a total value of $643,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of SFIX stock opened at $24.16 on Friday. The firm has a market capitalization of $2.51 billion and a P/E ratio of 61.95. Stitch Fix Inc has a one year low of $14.48 and a one year high of $52.44.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Monday, October 1st. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.14. The business had revenue of $318.30 million for the quarter, compared to analyst estimates of $318.93 million. Stitch Fix had a return on equity of 19.95% and a net margin of 3.66%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts forecast that Stitch Fix Inc will post 0.13 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its position in Stitch Fix by 18.5% in the 2nd quarter. Baillie Gifford & Co. now owns 2,290,113 shares of the company’s stock valued at $62,841,000 after purchasing an additional 357,686 shares during the last quarter. Light Street Capital Management LLC raised its position in Stitch Fix by 18.6% in the 2nd quarter. Light Street Capital Management LLC now owns 2,010,516 shares of the company’s stock valued at $55,169,000 after purchasing an additional 315,101 shares during the last quarter. Pier Capital LLC raised its position in Stitch Fix by 52.8% in the 2nd 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 last quarter. Scopus Asset Management L.P. bought a new position in Stitch Fix in the 2nd quarter valued at $6,860,000. Finally, Putnam Investments LLC bought a new position in Stitch Fix in the 2nd quarter valued at $6,019,000. 21.62% of the stock is currently owned by institutional investors and hedge funds.

SFIX has been the topic of several recent research reports. Zacks Investment Research raised Stitch Fix from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Saturday, September 15th. KeyCorp reaffirmed a “buy” rating and issued a $53.00 price target (up previously from $38.00) on shares of Stitch Fix in a research note on Thursday, September 13th. ValuEngine raised Stitch Fix from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. SunTrust Banks started coverage on Stitch Fix in a research note on Friday, August 10th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Wells Fargo & Co dropped coverage on Stitch Fix in a research note on Tuesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.18.

Stitch Fix Company Profile

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 and women 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.

Read More: Discover Your Risk Tolerance

Insider Buying and Selling by Quarter for Stitch Fix (NASDAQ:SFIX)

Receive News & Ratings for Stitch Fix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stitch Fix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply