Geode Capital Management LLC Boosts Stock Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Geode Capital Management LLC raised its position in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,459,014 shares of the company's stock after purchasing an additional 164,089 shares during the period. Geode Capital Management LLC owned about 1.94% of Stitch Fix worth $10,601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hall Kathryn A. acquired a new position in shares of Stitch Fix in the fourth quarter valued at approximately $281,000. Arrowstreet Capital Limited Partnership grew its stake in Stitch Fix by 740.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 230,764 shares of the company's stock worth $995,000 after acquiring an additional 203,302 shares during the period. Norges Bank acquired a new position in Stitch Fix in the 4th quarter valued at $3,183,000. JPMorgan Chase & Co. lifted its stake in shares of Stitch Fix by 149.5% during the 4th quarter. JPMorgan Chase & Co. now owns 402,328 shares of the company's stock worth $1,734,000 after purchasing an additional 241,103 shares during the period. Finally, Corebridge Financial Inc. boosted its holdings in shares of Stitch Fix by 4.8% during the fourth quarter. Corebridge Financial Inc. now owns 50,355 shares of the company's stock worth $217,000 after purchasing an additional 2,295 shares during the last quarter. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reiterated a "market perform" rating and issued a $6.00 target price on shares of Stitch Fix in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $4.50.

Insider Transactions at Stitch Fix

In related news, insider Casey O'connor sold 50,000 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $3.04, for a total transaction of $152,000.00. Following the completion of the sale, the insider now directly owns 575,755 shares of the company's stock, valued at approximately $1,750,295.20. This represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.95% of the company's stock.

Stitch Fix Trading Up 1.7 %

Shares of Stitch Fix stock opened at $3.05 on Wednesday. The business's fifty day moving average price is $3.87 and its 200 day moving average price is $4.04. Stitch Fix, Inc. has a twelve month low of $2.07 and a twelve month high of $6.99. The stock has a market capitalization of $392.83 million, a P/E ratio of -3.67 and a beta of 2.03.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.06. The company had revenue of $312.11 million for the quarter, compared to the consensus estimate of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted ($0.29) EPS. As a group, sell-side analysts predict that Stitch Fix, Inc. will post -0.44 EPS for the current year.

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.

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