Russell Investments Group Ltd. Acquires 20,642 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Russell Investments Group Ltd. boosted its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,200 shares of the company’s stock after purchasing an additional 20,642 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of Stitch Fix worth $1,096,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in Stitch Fix by 51.5% in the 4th quarter. Wells Fargo & Company MN now owns 62,984 shares of the company’s stock valued at $271,000 after acquiring an additional 21,423 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Stitch Fix in the 4th quarter valued at $308,000. Headlands Technologies LLC bought a new position in Stitch Fix during the 4th quarter worth $147,000. Geode Capital Management LLC increased its position in Stitch Fix by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 2,459,014 shares of the company’s stock worth $10,601,000 after buying an additional 164,089 shares during the period. Finally, Hall Kathryn A. acquired a new stake in shares of Stitch Fix during the fourth quarter worth $281,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Trading Down 2.0 %

NASDAQ SFIX opened at $3.00 on Tuesday. The firm’s 50 day simple moving average is $3.87 and its 200 day simple moving average is $4.04. The firm has a market capitalization of $386.39 million, a price-to-earnings ratio of -3.61 and a beta of 2.03. Stitch Fix, Inc. has a 1 year low of $2.06 and a 1 year high of $6.99.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The company had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. During the same period in the previous year, the firm posted ($0.29) EPS. The firm’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts forecast that Stitch Fix, Inc. will post -0.44 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price target on shares of Stitch Fix in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.50.

Insider Buying and Selling at Stitch Fix

In related news, insider Casey O’connor sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $3.04, for a total value of $152,000.00. Following the sale, the insider now directly owns 575,755 shares in the company, valued at $1,750,295.20. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 16.95% of the company’s stock.

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.