JPMorgan Chase & Co. Boosts Stake in Stitch Fix, Inc. (NASDAQ:SFIX)

JPMorgan Chase & Co. raised its holdings in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 72.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 161,225 shares of the company’s stock after purchasing an additional 67,892 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of Stitch Fix worth $455,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Caprock Group LLC bought a new position in shares of Stitch Fix during the third quarter valued at approximately $33,000. Wealth Enhancement Advisory Services LLC bought a new stake in Stitch Fix during the 3rd quarter valued at $36,000. Meeder Asset Management Inc. bought a new stake in Stitch Fix during the 3rd quarter valued at $44,000. CWM LLC increased its holdings in shares of Stitch Fix by 112.1% in the 3rd quarter. CWM LLC now owns 25,175 shares of the company’s stock valued at $71,000 after acquiring an additional 13,308 shares during the period. Finally, Creative Planning raised its position in shares of Stitch Fix by 32.1% in the 3rd quarter. Creative Planning now owns 25,477 shares of the company’s stock worth $72,000 after acquiring an additional 6,194 shares in the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Stitch Fix Trading Up 4.5 %

NASDAQ SFIX opened at $4.85 on Wednesday. Stitch Fix, Inc. has a 12-month low of $2.06 and a 12-month high of $6.99. The company has a fifty day simple moving average of $4.55 and a two-hundred day simple moving average of $3.91. The stock has a market cap of $615.17 million, a P/E ratio of -5.84 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $318.82 million during the quarter, compared to analyst estimates of $306.88 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS. As a group, sell-side analysts forecast that Stitch Fix, Inc. will post -0.44 earnings per share for the current year.

Insider Activity at Stitch Fix

In other news, insider Anthony Bacos sold 16,720 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was 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 in the company, valued at $4,213,364.82. This represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Stitch Fix Company 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.