JPMorgan Chase & Co. Buys 241,103 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

JPMorgan Chase & Co. grew its holdings in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 149.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402,328 shares of the company's stock after purchasing an additional 241,103 shares during the period. JPMorgan Chase & Co. owned about 0.32% of Stitch Fix worth $1,734,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Stitch Fix in the 4th quarter worth about $29,000. Pallas Capital Advisors LLC bought a new stake in shares of Stitch Fix in the 4th quarter valued at approximately $46,000. Bellecapital International Ltd. acquired a new position in Stitch Fix in the fourth quarter worth approximately $55,000. Savant Capital LLC bought a new position in Stitch Fix during the fourth quarter valued at approximately $79,000. Finally, Raymond James Financial Inc. bought a new position in Stitch Fix during the fourth quarter valued at approximately $134,000. 71.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group restated a "market perform" rating and set a $6.00 price target 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 company's stock. According to data from MarketBeat.com, Stitch Fix has a consensus rating of "Hold" and a consensus price target of $4.50.

Stitch Fix Price Performance

Shares of SFIX stock traded down $0.04 during trading on Monday, reaching $3.31. The company had a trading volume of 892,307 shares, compared to its average volume of 2,456,469. The firm's 50 day simple moving average is $3.69 and its two-hundred day simple moving average is $4.06. Stitch Fix, Inc. has a one year low of $2.07 and a one year high of $6.99. The company has a market capitalization of $426.32 million, a PE ratio of -3.99 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) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The company had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. During the same quarter last year, the firm posted ($0.29) earnings per share. The company's quarterly revenue was down 5.5% compared to the same quarter last year. Analysts forecast that Stitch Fix, Inc. will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Casey O'connor sold 50,000 shares of Stitch Fix stock in a transaction dated Monday, April 14th. The stock was 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 approximately $1,750,295.20. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.