Stitch Fix (NASDAQ:SFIX) Shares Gap Down – Here’s What Happened

Stitch Fix, Inc. (NASDAQ:SFIX) shares gapped down before the market opened on Friday . The stock had previously closed at $4.69, but opened at $4.40. Stitch Fix shares last traded at $5.1160, with a volume of 961,209 shares trading hands.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group reaffirmed a “neutral” rating on shares of Stitch Fix in a research report on Wednesday, September 17th. Zacks Research upgraded Stitch Fix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stitch Fix in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $6.00 price target on shares of Stitch Fix in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

Stitch Fix Stock Up 13.5%

The business has a 50-day simple moving average of $4.29 and a 200-day simple moving average of $4.56. The stock has a market cap of $714.14 million, a P/E ratio of -11.55 and a beta of 2.22.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Thursday, December 4th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $342.13 million during the quarter, compared to analysts’ expectations of $335.74 million. Stitch Fix had a negative net margin of 2.27% and a negative return on equity of 14.57%. Stitch Fix’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) earnings per share. On average, analysts predict that Stitch Fix, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at Stitch Fix

In related news, insider Casey O’connor sold 50,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $4.41, for a total transaction of $220,500.00. Following the completion of the sale, the insider owned 431,441 shares in the company, valued at $1,902,654.81. This represents a 10.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony Bacos sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $5.61, for a total value of $504,900.00. Following the completion of the sale, the insider directly owned 799,966 shares in the company, valued at $4,487,809.26. This trade represents a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stitch Fix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wescott Financial Advisory Group LLC bought a new position in Stitch Fix during the first quarter worth $32,000. State of Alaska Department of Revenue acquired a new stake in Stitch Fix in the 3rd quarter worth $32,000. First Dallas Securities Inc. acquired a new stake in Stitch Fix in the 2nd quarter worth $37,000. Ameritas Investment Partners Inc. increased its holdings in shares of Stitch Fix by 32.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the company’s stock worth $40,000 after purchasing an additional 2,645 shares during the period. Finally, 111 Capital acquired a new position in shares of Stitch Fix during the second quarter valued at about $44,000. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.