BNP Paribas Financial Markets Purchases 404,269 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

BNP Paribas Financial Markets lifted its position in Stitch Fix, Inc. (NASDAQ:SFIX) by 1,401.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,120 shares of the company’s stock after buying an additional 404,269 shares during the quarter. BNP Paribas Financial Markets owned about 0.34% of Stitch Fix worth $1,867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SFIX. Cooper Creek Partners Management LLC grew its stake in shares of Stitch Fix by 1,405.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 4,273,265 shares of the company’s stock valued at $18,418,000 after buying an additional 3,989,362 shares in the last quarter. Norges Bank bought a new position in Stitch Fix during the fourth quarter worth $3,183,000. Vanguard Group Inc. boosted its position in Stitch Fix by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 6,469,114 shares of the company’s stock worth $27,882,000 after purchasing an additional 457,568 shares during the period. JPMorgan Chase & Co. boosted its position in Stitch Fix by 149.5% during the fourth quarter. JPMorgan Chase & Co. now owns 402,328 shares of the company’s stock worth $1,734,000 after purchasing an additional 241,103 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Stitch Fix by 46.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 732,990 shares of the company’s stock worth $3,159,000 after purchasing an additional 233,848 shares during the period. 71.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Casey O’connor sold 50,000 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $3.04, for a total value of $152,000.00. Following the completion of the transaction, the insider now owns 575,755 shares of the company’s stock, valued at $1,750,295.20. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.95% of the stock is currently owned by company insiders.

Stitch Fix Stock Performance

Shares of Stitch Fix stock opened at $4.21 on Friday. The firm has a 50-day moving average of $3.39 and a 200-day moving average of $4.12. The stock has a market cap of $542.24 million, a PE ratio of -5.07 and a beta of 2.00. Stitch Fix, Inc. has a 52-week low of $2.18 and a 52-week high of $6.99.

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

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.