Victory Capital Management Inc. Sells 3,011 Shares of Stitch Fix Inc (NASDAQ:SFIX)

Victory Capital Management Inc. cut its holdings in shares of Stitch Fix Inc (NASDAQ:SFIX) by 63.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,730 shares of the company’s stock after selling 3,011 shares during the period. Victory Capital Management Inc.’s holdings in Stitch Fix were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of SFIX. BlackRock Inc. lifted its holdings in shares of Stitch Fix by 562.1% in the second quarter. BlackRock Inc. now owns 2,605,848 shares of the company’s stock valued at $83,361,000 after purchasing an additional 2,212,289 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Stitch Fix by 23.3% in the second quarter. Baillie Gifford & Co. now owns 4,488,246 shares of the company’s stock valued at $143,580,000 after acquiring an additional 849,117 shares during the last quarter. Marshall Wace LLP increased its position in shares of Stitch Fix by 2,125.9% in the second quarter. Marshall Wace LLP now owns 507,025 shares of the company’s stock valued at $16,220,000 after acquiring an additional 484,247 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Stitch Fix by 34.9% in the second quarter. Brown Advisory Inc. now owns 880,947 shares of the company’s stock valued at $28,182,000 after acquiring an additional 227,919 shares during the last quarter. Finally, Columbus Circle Investors acquired a new stake in shares of Stitch Fix in the second quarter valued at about $6,359,000. Hedge funds and other institutional investors own 39.43% of the company’s stock.

Shares of SFIX stock opened at $21.79 on Friday. The stock has a market cap of $2.10 billion, a P/E ratio of 57.94, a price-to-earnings-growth ratio of 32.09 and a beta of 3.33. The stock has a 50 day simple moving average of $19.48 and a 200 day simple moving average of $24.79. Stitch Fix Inc has a 1 year low of $16.05 and a 1 year high of $37.72.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The business had revenue of $432.10 million during the quarter, compared to analysts’ expectations of $432.44 million. Stitch Fix had a return on equity of 10.11% and a net margin of 2.34%. The firm’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. On average, equities research analysts predict that Stitch Fix Inc will post 0.02 earnings per share for the current fiscal year.

SFIX has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Stitch Fix from $34.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Stifel Nicolaus lowered their price target on Stitch Fix from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. SunTrust Banks lowered their price target on Stitch Fix from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Goldman Sachs Group raised Stitch Fix from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Friday, July 12th. Finally, Needham & Company LLC started coverage on Stitch Fix in a research report on Monday, July 1st. They set a “hold” rating on the stock. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $28.70.

In related news, CEO Katrina Lake sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $28.26, for a total value of $2,826,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mike C. Smith sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $20.41, for a total value of $306,150.00. Following the completion of the sale, the chief operating officer now owns 62,761 shares of the company’s stock, valued at $1,280,952.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 346,000 shares of company stock valued at $8,050,620. 56.97% of the stock is currently owned by corporate insiders.

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.

Further Reading: Different Options Trading Strategies

Institutional Ownership by Quarter for Stitch Fix (NASDAQ:SFIX)

Receive News & Ratings for Stitch Fix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stitch Fix and related companies with MarketBeat.com's FREE daily email newsletter.