Stitch Fix (NASDAQ:SFIX) Trading Down 4.4% - Time to Sell?

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report)'s share price traded down 4.4% on Thursday . The company traded as low as $5.04 and last traded at $5.04. 490,724 shares changed hands during trading, a decline of 83% from the average session volume of 2,833,298 shares. The stock had previously closed at $5.27.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SFIX. UBS Group boosted their target price on shares of Stitch Fix from $2.80 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Telsey Advisory Group boosted their price target on Stitch Fix from $4.00 to $6.00 and gave the company a "market perform" rating in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group boosted 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, December 11th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $3.96.

Stitch Fix Stock Down 3.4 %

The stock has a market capitalization of $640.53 million, a PE ratio of -6.08 and a beta of 1.99. The business's fifty day moving average is $4.39 and its two-hundred day moving average is $3.89.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company had revenue of $318.82 million during the quarter, compared to analyst estimates of $306.88 million. During the same quarter last year, the business posted ($0.30) earnings per share. The firm's revenue was down 12.6% on a year-over-year basis. Sell-side analysts expect that Stitch Fix, Inc. will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stitch Fix news, Director Katrina Lake sold 725,002 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total transaction of $4,190,511.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony Bacos sold 16,720 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $4.61, for a total value of $77,079.20. Following the completion of the sale, the insider now owns 913,962 shares in the company, valued at approximately $4,213,364.82. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.95% of the stock is owned by insiders.

Institutional Trading of Stitch Fix

Institutional investors and hedge funds have recently made changes to their positions in the business. Pallas Capital Advisors LLC purchased a new stake in Stitch Fix in the 4th quarter valued at about $46,000. JPMorgan Chase & Co. raised its position in Stitch Fix by 72.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company's stock valued at $455,000 after purchasing an additional 67,892 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Stitch Fix by 68.0% in the 3rd quarter. Franklin Resources Inc. now owns 144,261 shares of the company's stock worth $391,000 after buying an additional 58,412 shares during the period. Virtu Financial LLC bought a new stake in shares of Stitch Fix in the third quarter valued at about $196,000. Finally, Barclays PLC lifted its stake in Stitch Fix by 30.7% in the third quarter. Barclays PLC now owns 168,953 shares of the company's stock worth $475,000 after acquiring an additional 39,713 shares during the period. 71.04% of the stock is currently owned by institutional investors.

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.