Norges Bank Buys Shares of 738,601 Stitch Fix, Inc. (NASDAQ:SFIX)

Norges Bank bought a new position in shares of Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 738,601 shares of the company's stock, valued at approximately $3,183,000. Norges Bank owned approximately 0.58% of Stitch Fix at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SFIX. Vanguard Group Inc. raised its stake in Stitch Fix by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 6,469,114 shares of the company's stock worth $27,882,000 after buying an additional 457,568 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Stitch Fix by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company's stock worth $6,473,000 after purchasing an additional 83,220 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Stitch Fix by 46.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 732,990 shares of the company's stock valued at $3,159,000 after purchasing an additional 233,848 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Stitch Fix by 149.5% in the fourth quarter. JPMorgan Chase & Co. now owns 402,328 shares of the company's stock valued at $1,734,000 after purchasing an additional 241,103 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Stitch Fix by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 258,299 shares of the company's stock worth $1,113,000 after purchasing an additional 17,943 shares in the last quarter. Hedge funds and other institutional investors own 71.04% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Stitch Fix

In other Stitch Fix news, insider Casey O'connor sold 50,000 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $3.04, for a total value of $152,000.00. Following the transaction, the insider now directly owns 575,755 shares in the company, valued at $1,750,295.20. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 16.95% of the stock is currently owned by insiders.

Stitch Fix Trading Down 1.5 %

Shares of Stitch Fix stock traded down $0.05 during trading hours on Wednesday, reaching $3.03. The stock had a trading volume of 99,545 shares, compared to its average volume of 2,435,478. Stitch Fix, Inc. has a twelve month low of $2.06 and a twelve month high of $6.99. The stock's 50 day moving average is $4.04 and its 200 day moving average is $4.02. The firm has a market capitalization of $389.61 million, a PE ratio of -3.66 and a beta of 2.03.

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

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.