Stitch Fix, Inc. (NASDAQ:SFIX) Stake Raised by Arizona State Retirement System

Arizona State Retirement System boosted its holdings in Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating) by 16.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,329 shares of the company’s stock after acquiring an additional 2,967 shares during the quarter. Arizona State Retirement System’s holdings in Stitch Fix were worth $215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SFIX. Allspring Global Investments Holdings LLC purchased a new position in Stitch Fix in the 4th quarter worth about $596,000. Chevy Chase Trust Holdings Inc. increased its stake in Stitch Fix by 7.3% in the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 118,776 shares of the company’s stock worth $2,247,000 after purchasing an additional 8,129 shares in the last quarter. D.A. Davidson & CO. increased its stake in Stitch Fix by 6.6% in the 4th quarter. D.A. Davidson & CO. now owns 28,963 shares of the company’s stock worth $548,000 after purchasing an additional 1,783 shares in the last quarter. CWM LLC purchased a new position in Stitch Fix during the 4th quarter valued at about $3,341,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Stitch Fix by 42.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,344 shares of the company’s stock valued at $158,000 after acquiring an additional 2,470 shares in the last quarter. 70.50% of the stock is currently owned by institutional investors.

Insider Transactions at Stitch Fix

In other Stitch Fix news, Director J William Gurley purchased 1,000,000 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was bought at an average cost of $5.43 per share, for a total transaction of $5,430,000.00. Following the completion of the acquisition, the director now directly owns 2,149,762 shares in the company, valued at $11,673,207.66. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 27.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SFIX shares. JPMorgan Chase & Co. lowered their target price on Stitch Fix from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, June 10th. Truist Financial lowered their target price on Stitch Fix from $12.00 to $8.00 and set a “hold” rating on the stock in a research note on Friday, June 10th. Wedbush lowered their target price on Stitch Fix from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, June 10th. Robert W. Baird lowered their target price on Stitch Fix from $11.00 to $7.00 in a research note on Monday, June 13th. Finally, BMO Capital Markets lowered their price target on Stitch Fix from $11.00 to $8.00 in a research note on Friday, June 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.30.

Stitch Fix Stock Performance

SFIX opened at $6.48 on Friday. The business has a 50 day moving average price of $6.38 and a 200 day moving average price of $9.61. Stitch Fix, Inc. has a twelve month low of $4.66 and a twelve month high of $48.41. The firm has a market cap of $700.95 million, a P/E ratio of -7.81 and a beta of 1.94.

Stitch Fix (NASDAQ:SFIX – Get Rating) last issued its quarterly earnings results on Thursday, June 9th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.15). Stitch Fix had a negative return on equity of 19.96% and a negative net margin of 4.13%. The business had revenue of $492.90 million for the quarter, compared to analyst estimates of $493.71 million. During the same quarter last year, the firm earned ($0.18) earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, analysts anticipate that Stitch Fix, Inc. will post -1.62 earnings per share for the current fiscal year.

Stitch Fix Company Profile

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Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc.

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