Stitch Fix Inc (NASDAQ:SFIX) shares were up 1.1% during trading on Wednesday . The stock traded as high as $28.72 and last traded at $28.45. Approximately 28,462 shares were traded during trading, a decline of 99% from the average daily volume of 3,438,868 shares. The stock had previously closed at $28.13.
Several research analysts have commented on SFIX shares. ValuEngine raised shares of Stitch Fix from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. Buckingham Research started coverage on shares of Stitch Fix in a research note on Monday, March 19th. They set a “neutral” rating and a $22.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on shares of Stitch Fix from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, March 13th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Stitch Fix currently has a consensus rating of “Hold” and a consensus target price of $25.71.
Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Thursday, June 7th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The company had revenue of $316.70 million during the quarter, compared to analyst estimates of $306.67 million. Stitch Fix had a net margin of 1.90% and a return on equity of 15.39%. Stitch Fix’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.38) earnings per share. research analysts forecast that Stitch Fix Inc will post 0.2 EPS for the current year.
In other news, CEO Katrina Lake sold 150,000 shares of the business’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $21.68, for a total transaction of $3,252,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Steven M. Spurlock sold 84,955 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $24.56, for a total transaction of $2,086,494.80. The disclosure for this sale can be found here. Insiders have sold 1,046,043 shares of company stock valued at $24,831,925 over the last three months.
Several institutional investors and hedge funds have recently modified their holdings of the company. Element Capital Management LLC purchased a new stake in shares of Stitch Fix during the first quarter valued at $220,000. Millennium Management LLC purchased a new stake in shares of Stitch Fix during the first quarter valued at $296,000. Northern Trust Corp purchased a new stake in shares of Stitch Fix during the first quarter valued at $389,000. Virtu Financial LLC purchased a new stake in shares of Stitch Fix during the fourth quarter valued at $578,000. Finally, Summit Rock Advisors LP purchased a new stake in shares of Stitch Fix during the first quarter valued at $474,000. 11.97% of the stock is owned by hedge funds and other institutional investors.
About Stitch Fix
Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men and women under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.
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