Geode Capital Management LLC Buys 83,220 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Geode Capital Management LLC boosted its stake in Stitch Fix, Inc. (NASDAQ:SFIX) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,294,925 shares of the company’s stock after acquiring an additional 83,220 shares during the quarter. Geode Capital Management LLC owned 1.81% of Stitch Fix worth $6,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SFIX. Caprock Group LLC bought a new stake in shares of Stitch Fix in the third quarter valued at about $33,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Stitch Fix in the 3rd quarter valued at approximately $36,000. Meeder Asset Management Inc. bought a new stake in Stitch Fix in the 3rd quarter valued at approximately $44,000. Sei Investments Co. acquired a new position in Stitch Fix during the 2nd quarter worth approximately $81,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Stitch Fix during the 2nd quarter worth approximately $90,000. 71.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stitch Fix

In other Stitch Fix news, Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total transaction of $4,190,511.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anthony Bacos sold 16,720 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $4.61, for a total value of $77,079.20. Following the sale, the insider now owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.95% of the company’s stock.

Stitch Fix Stock Up 3.4 %

SFIX opened at $4.52 on Friday. Stitch Fix, Inc. has a 12-month low of $2.06 and a 12-month high of $6.99. The business has a 50 day moving average of $4.08 and a 200-day moving average of $3.82. The stock has a market cap of $573.31 million, a price-to-earnings ratio of -5.45 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $318.82 million during the quarter, compared to analysts’ expectations of $306.88 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) earnings per share. As a group, analysts expect that Stitch Fix, Inc. will post -0.46 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Telsey Advisory Group lifted their price target on shares of Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group lifted their target price on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, UBS Group increased their price target on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.96.

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.