Stitch Fix, Inc. (NASDAQ:SFIX) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lessened its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 37.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 442,494 shares of the company's stock after selling 265,797 shares during the period. Verition Fund Management LLC owned approximately 0.35% of Stitch Fix worth $1,248,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SFIX. Caprock Group LLC purchased a new stake in Stitch Fix in the third quarter worth $33,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Stitch Fix in the 3rd quarter valued at about $36,000. Meeder Asset Management Inc. purchased a new stake in Stitch Fix in the 3rd quarter valued at about $44,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Stitch Fix during the second quarter worth approximately $46,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Stitch Fix during the second quarter valued at approximately $48,000. Institutional investors own 71.04% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on SFIX shares. UBS Group raised their price objective on Stitch Fix from $2.80 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday. Telsey Advisory Group restated a "market perform" rating and set a $4.00 price target on shares of Stitch Fix in a research note on Wednesday. Finally, Canaccord Genuity Group upped their price objective on shares of Stitch Fix from $3.50 to $5.00 and gave the stock a "hold" rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.57.

Stitch Fix Trading Up 2.2 %

Shares of NASDAQ:SFIX traded up $0.10 during trading on Friday, reaching $4.63. The stock had a trading volume of 1,841,204 shares, compared to its average volume of 1,333,751. The firm's 50-day simple moving average is $3.50 and its 200 day simple moving average is $3.64. Stitch Fix, Inc. has a one year low of $2.06 and a one year high of $5.05. The company has a market capitalization of $587.27 million, a P/E ratio of -4.29 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its quarterly earnings results on Tuesday, September 24th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.07. Stitch Fix had a negative net margin of 9.63% and a negative return on equity of 40.62%. The business had revenue of $319.55 million for the quarter, compared to analyst estimates of $317.48 million. Equities research analysts forecast that Stitch Fix, Inc. will post -0.61 earnings per share for the current fiscal year.

Stitch Fix 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.