Rosenblum Silverman Sutton S F Inc. CA Purchases 28,340 Shares of Stitch Fix Inc (SFIX)
Rosenblum Silverman Sutton S F Inc. CA grew its position in shares of Stitch Fix Inc (NASDAQ:SFIX) by 262.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,135 shares of the company’s stock after purchasing an additional 28,340 shares during the quarter. Rosenblum Silverman Sutton S F Inc. CA’s holdings in Stitch Fix were worth $1,713,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in SFIX. IFP Advisors Inc lifted its stake in shares of Stitch Fix by 2,302.5% in the third quarter. IFP Advisors Inc now owns 2,883 shares of the company’s stock worth $126,000 after acquiring an additional 2,763 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Stitch Fix in the third quarter worth approximately $153,000. D.A. Davidson & CO. acquired a new position in shares of Stitch Fix in the second quarter worth approximately $203,000. California Public Employees Retirement System acquired a new position in shares of Stitch Fix in the second quarter worth approximately $228,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Stitch Fix in the third quarter worth approximately $244,000. 23.53% of the stock is currently owned by hedge funds and other institutional investors.
In other Stitch Fix news, major shareholder Barry Eggers sold 31,886 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $40.88, for a total value of $1,303,499.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mike C. Smith sold 25,000 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $50.04, for a total value of $1,251,000.00. The disclosure for this sale can be found here. Insiders have sold 441,507 shares of company stock valued at $12,742,764 in the last quarter. 56.97% of the stock is currently owned by corporate insiders.
Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Monday, October 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.14. Stitch Fix had a return on equity of 19.95% and a net margin of 3.66%. The business had revenue of $318.30 million during the quarter, compared to the consensus estimate of $318.93 million. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, analysts forecast that Stitch Fix Inc will post 0.13 EPS for the current fiscal year.
SFIX has been the topic of a number of recent analyst 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 research note on Saturday, September 15th. KeyCorp reissued a “buy” rating and issued a $53.00 price target (up 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 assumed coverage on Stitch Fix in a report on Friday, August 10th. They set a “buy” rating and a $38.00 price objective for the company. Finally, Wells Fargo & Co dropped coverage on Stitch Fix in a report on Tuesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Stitch Fix presently has a consensus rating of “Hold” and an average price target of $33.18.
Stitch Fix 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, 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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