Stitch Fix (NASDAQ:SFIX) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Stitch Fix (NASDAQ:SFIX) issued its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.05, FiscalAI reports. Stitch Fix had a negative return on equity of 12.23% and a negative net margin of 1.89%.The business had revenue of $340.28 million for the quarter, compared to the consensus estimate of $333.51 million.

Stitch Fix Trading Down 0.6%

NASDAQ SFIX traded down $0.02 during mid-day trading on Wednesday, reaching $3.60. 2,557,014 shares of the company’s stock traded hands, compared to its average volume of 2,030,460. Stitch Fix has a 1-year low of $2.95 and a 1-year high of $5.94. The company has a fifty day simple moving average of $3.47 and a 200-day simple moving average of $4.06. The company has a market cap of $491.47 million, a price-to-earnings ratio of -27.69 and a beta of 2.31.

Analyst Ratings Changes

Several brokerages have commented on SFIX. UBS Group dropped their price target on Stitch Fix from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. William Blair restated a “mixed” rating on shares of Stitch Fix in a research note on Friday, March 6th. Telsey Advisory Group dropped their price target on Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, March 12th. Northland Securities began coverage on Stitch Fix in a research note on Thursday, May 28th. They set an “outperform” rating and a $5.00 price target for the company. Finally, Wall Street Zen lowered Stitch Fix from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Stitch Fix has an average rating of “Hold” and a consensus price target of $5.00.

Insider Buying and Selling

In other Stitch Fix news, insider Casey O’connor sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3.08, for a total transaction of $184,800.00. Following the completion of the sale, the insider owned 480,334 shares in the company, valued at $1,479,428.72. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Aufderhaar sold 65,709 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $3.09, for a total value of $203,040.81. Following the sale, the chief financial officer owned 1,178,037 shares of the company’s stock, valued at approximately $3,640,134.33. This trade represents a 5.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.09% of the stock is owned by company insiders.

Institutional Trading of Stitch Fix

Several hedge funds have recently made changes to their positions in the stock. State of Wyoming raised its stake in shares of Stitch Fix by 31.9% during the fourth quarter. State of Wyoming now owns 16,001 shares of the company’s stock valued at $84,000 after purchasing an additional 3,866 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Stitch Fix by 7.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock valued at $199,000 after purchasing an additional 3,993 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Stitch Fix by 12.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock worth $147,000 after buying an additional 4,303 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Stitch Fix by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 156,330 shares of the company’s stock worth $821,000 after buying an additional 5,113 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Stitch Fix by 4.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 147,034 shares of the company’s stock worth $772,000 after buying an additional 6,841 shares in the last quarter. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.