Charles Schwab Investment Management Inc. Sells 335,898 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Charles Schwab Investment Management Inc. trimmed its stake in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 18.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,497,360 shares of the company's stock after selling 335,898 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.18% of Stitch Fix worth $4,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SFIX. Intech Investment Management LLC purchased a new position in Stitch Fix in the third quarter valued at about $102,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Stitch Fix by 32.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company's stock valued at $1,408,000 after buying an additional 121,084 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Stitch Fix in the third quarter worth approximately $44,000. Caprock Group LLC bought a new position in Stitch Fix during the third quarter valued at approximately $33,000. Finally, Versor Investments LP acquired a new stake in Stitch Fix in the third quarter valued at approximately $96,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SFIX has been the topic of a number of recent research reports. UBS Group raised their price target on shares of Stitch Fix from $2.80 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Telsey Advisory Group upped their price target on Stitch Fix from $4.00 to $6.00 and gave the stock a "market perform" rating in a research note on Wednesday. Finally, Canaccord Genuity Group raised their price objective on Stitch Fix from $5.00 to $6.00 and gave the company a "hold" rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $3.96.

Stitch Fix Trading Down 15.7 %

SFIX traded down $0.73 during midday trading on Friday, reaching $3.92. The company's stock had a trading volume of 12,387,978 shares, compared to its average volume of 2,112,316. The company has a fifty day simple moving average of $3.72 and a 200 day simple moving average of $3.73. The stock has a market cap of $497.20 million, a P/E ratio of -4.72 and a beta of 1.99. Stitch Fix, Inc. has a twelve month low of $2.06 and a twelve month high of $6.99.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $318.82 million for the quarter, compared to the consensus estimate of $306.88 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.21%. Stitch Fix's quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.30) earnings per share. Sell-side analysts expect that Stitch Fix, Inc. will post -0.61 earnings per share for the current year.

Insider Transactions at Stitch Fix

In related news, Director Katrina Lake sold 725,002 shares of the company's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.95% of the company's stock.

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.