Stitch Fix Inc (NASDAQ:SFIX) Major Shareholder Steven M. Spurlock Sells 223,029 Shares

Stitch Fix Inc (NASDAQ:SFIX) major shareholder Steven M. Spurlock sold 223,029 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $28.46, for a total transaction of $6,347,405.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

NASDAQ SFIX traded up $0.11 during trading hours on Friday, reaching $31.01. The stock had a trading volume of 968,890 shares, compared to its average volume of 3,107,719. The company’s fifty day moving average is $27.55. The stock has a market cap of $3.13 billion, a PE ratio of 79.51, a P/E/G ratio of 4.27 and a beta of 3.24. Stitch Fix Inc has a 52-week low of $16.05 and a 52-week high of $52.44.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Wednesday, June 5th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.10. Stitch Fix had a return on equity of 13.77% and a net margin of 3.27%. The firm had revenue of $409.00 million for the quarter, compared to analyst estimates of $395.06 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Stitch Fix’s revenue for the quarter was up 29.1% on a year-over-year basis. As a group, equities research analysts forecast that Stitch Fix Inc will post 0.32 earnings per share for the current year.

A number of equities analysts have commented on the stock. KeyCorp boosted their target price on shares of Stitch Fix from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, March 12th. Royal Bank of Canada boosted their target price on shares of Stitch Fix from $39.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, March 12th. Wells Fargo & Co boosted their target price on shares of Stitch Fix from $22.00 to $30.00 and gave the stock a “market perform” rating in a report on Wednesday, March 13th. Barclays upped their price objective on shares of Stitch Fix to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, March 13th. Finally, SunTrust Banks upped their price objective on shares of Stitch Fix to $43.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.11.

Institutional investors have recently added to or reduced their stakes in the business. Weaver Consulting Group purchased a new stake in Stitch Fix in the 1st quarter worth approximately $28,000. AdvisorNet Financial Inc purchased a new stake in Stitch Fix in the 4th quarter worth approximately $29,000. Botty Investors LLC purchased a new stake in Stitch Fix in the 1st quarter worth approximately $61,000. Capital Investment Advisory Services LLC purchased a new stake in Stitch Fix in the 4th quarter worth approximately $62,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Stitch Fix during the 1st quarter worth approximately $134,000. Institutional investors and hedge funds own 29.24% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.

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