Hsbc Holdings PLC cut its stake in Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating) by 18.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,670 shares of the company’s stock after selling 5,236 shares during the period. Hsbc Holdings PLC’s holdings in Stitch Fix were worth $91,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in Stitch Fix by 73.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,652 shares of the company’s stock worth $34,000 after buying an additional 3,667 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Stitch Fix in the third quarter worth $41,000. Lazard Asset Management LLC acquired a new stake in Stitch Fix in the second quarter worth $49,000. Great West Life Assurance Co. Can increased its holdings in shares of Stitch Fix by 311.9% during the third quarter. Great West Life Assurance Co. Can now owns 13,347 shares of the company’s stock valued at $52,000 after purchasing an additional 10,107 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of Stitch Fix during the second quarter valued at $56,000. 68.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Telsey Advisory Group reissued a “market perform” rating and set a $5.00 price target on shares of Stitch Fix in a report on Wednesday, March 8th. UBS Group lowered their price target on Stitch Fix from $4.30 to $4.20 and set a “neutral” rating on the stock in a report on Wednesday, December 7th. Morgan Stanley raised their price target on Stitch Fix from $3.00 to $4.00 and gave the company an “equal weight” rating in a report on Wednesday, January 18th. JPMorgan Chase & Co. lowered Stitch Fix from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 20th. Finally, Wells Fargo & Company raised Stitch Fix from an “underweight” rating to an “equal weight” rating and set a $4.00 price target on the stock in a report on Friday, January 6th. Two research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the company’s stock. According to data from MarketBeat, Stitch Fix presently has a consensus rating of “Hold” and an average target price of $6.34.
Stitch Fix Stock Down 4.8 %
Stitch Fix (NASDAQ:SFIX – Get Rating) last released its quarterly earnings results on Tuesday, March 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Stitch Fix had a negative net margin of 16.06% and a negative return on equity of 75.22%. The company had revenue of $412.12 million during the quarter, compared to analyst estimates of $412.94 million. During the same quarter last year, the business earned ($0.02) EPS. The company’s revenue for the quarter was down 20.2% compared to the same quarter last year. Equities analysts predict that Stitch Fix, Inc. will post -1.37 earnings per share for the current year.
Stitch Fix Company Profile
Stitch Fix, Inc engages in the provision of personalized shipments of apparel, shoes, and accessories. The firm also delivers personalization to clients through the pairing of data science and human judgment. The company was founded by Katrina Lake and Erin Morrison Flynn in February 2011 and is headquartered in San Francisco, CA.
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