Panagora Asset Management Inc. Sells 3,313 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Panagora Asset Management Inc. decreased its holdings in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 221,557 shares of the company’s stock after selling 3,313 shares during the period. Panagora Asset Management Inc. owned approximately 0.18% of Stitch Fix worth $919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lodestar Private Asset Management LLC bought a new stake in shares of Stitch Fix during the 1st quarter valued at $29,000. Victory Capital Management Inc. bought a new stake in shares of Stitch Fix in the 4th quarter valued at $42,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Stitch Fix in the 2nd quarter valued at $46,000. Pallas Capital Advisors LLC bought a new stake in shares of Stitch Fix in the 2nd quarter valued at $48,000. Finally, CWM LLC increased its position in shares of Stitch Fix by 132.5% in the 2nd quarter. CWM LLC now owns 11,867 shares of the company’s stock valued at $49,000 after buying an additional 6,762 shares in the last quarter. Institutional investors own 71.04% of the company’s stock.

Insider Transactions at Stitch Fix

In other news, insider Anthony Bacos sold 42,381 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $4.13, for a total transaction of $175,033.53. Following the completion of the transaction, the insider now directly owns 627,957 shares in the company, valued at approximately $2,593,462.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Matt Baer sold 44,230 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $5.00, for a total value of $221,150.00. Following the completion of the sale, the chief executive officer now directly owns 973,769 shares in the company, valued at approximately $4,868,845. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony Bacos sold 42,381 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $4.13, for a total transaction of $175,033.53. Following the completion of the sale, the insider now owns 627,957 shares of the company’s stock, valued at $2,593,462.41. The disclosure for this sale can be found here. Insiders sold a total of 656,663 shares of company stock worth $3,213,892 in the last three months. Insiders own 25.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SFIX. Mizuho upped their price objective on shares of Stitch Fix from $2.00 to $3.00 and gave the company an “underperform” rating in a research report on Monday, June 10th. Wedbush restated a “neutral” rating and issued a $3.00 price objective on shares of Stitch Fix in a research report on Wednesday, June 5th. Canaccord Genuity Group upped their price objective on shares of Stitch Fix from $3.50 to $4.50 and gave the company a “hold” rating in a research report on Thursday, June 27th. Truist Financial upped their price objective on shares of Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a research report on Wednesday, June 5th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.45.

Stitch Fix Trading Down 0.5 %

SFIX stock opened at $3.78 on Monday. The stock has a 50-day moving average price of $4.05 and a two-hundred day moving average price of $3.17. The stock has a market cap of $462.45 million, a PE ratio of -3.71 and a beta of 1.97. Stitch Fix, Inc. has a 1 year low of $2.06 and a 1 year high of $5.05.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Tuesday, June 4th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. Stitch Fix had a negative net margin of 8.68% and a negative return on equity of 41.40%. The company had revenue of $322.73 million during the quarter, compared to the consensus estimate of $305.93 million. On average, analysts forecast that Stitch Fix, Inc. will post -0.73 earnings per share for the current fiscal year.

Stitch Fix 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.