Allspring Global Investments Holdings LLC raised its holdings in Stitch Fix, Inc. (NASDAQ:SFIX – Free Report) by 88.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,072 shares of the company’s stock after purchasing an additional 10,812 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Stitch Fix were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Stitch Fix by 0.7% in the first quarter. BlackRock Inc. now owns 8,224,237 shares of the company’s stock valued at $42,026,000 after buying an additional 57,242 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Stitch Fix by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 7,964,510 shares of the company’s stock worth $80,203,000 after purchasing an additional 483,213 shares in the last quarter. Potrero Capital Research LLC grew its stake in shares of Stitch Fix by 178.0% during the 1st quarter. Potrero Capital Research LLC now owns 3,679,558 shares of the company’s stock worth $18,803,000 after purchasing an additional 2,355,827 shares during the period. Millennium Management LLC increased its holdings in shares of Stitch Fix by 50.3% in the 4th quarter. Millennium Management LLC now owns 3,088,465 shares of the company’s stock valued at $9,605,000 after purchasing an additional 1,033,703 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Stitch Fix by 3.6% in the first quarter. State Street Corp now owns 2,747,804 shares of the company’s stock valued at $14,041,000 after purchasing an additional 95,422 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of Stitch Fix from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 19th. Piper Sandler lowered their target price on Stitch Fix from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Tuesday, September 19th. Robert W. Baird cut their price target on Stitch Fix from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Telsey Advisory Group lowered their price objective on shares of Stitch Fix from $5.00 to $4.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 19th. Finally, Truist Financial dropped their target price on shares of Stitch Fix from $4.60 to $4.00 and set a “hold” rating for the company in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.86.
Stitch Fix Stock Performance
Shares of SFIX opened at $3.58 on Thursday. Stitch Fix, Inc. has a 1 year low of $2.63 and a 1 year high of $6.03. The company’s 50 day simple moving average is $3.34 and its 200 day simple moving average is $3.71. The company has a market capitalization of $420.04 million, a price-to-earnings ratio of -2.37 and a beta of 2.17.
Stitch Fix (NASDAQ:SFIX – Get Free Report) last issued its quarterly earnings results on Monday, September 18th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The business had revenue of $375.80 million for the quarter, compared to analysts’ expectations of $371.24 million. Stitch Fix had a negative return on equity of 50.24% and a negative net margin of 10.50%. The company’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.65) EPS. Equities analysts expect that Stitch Fix, Inc. will post -0.86 EPS for the current fiscal year.
Insider Buying and Selling at Stitch Fix
In other news, CAO Sarah Barkema sold 34,309 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $3.10, for a total transaction of $106,357.90. Following the transaction, the chief accounting officer now directly owns 80,087 shares in the company, valued at approximately $248,269.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 25.90% of the stock is owned by company insiders.
About Stitch Fix
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.
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