Pallas Capital Advisors LLC Takes Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Pallas Capital Advisors LLC bought a new stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,709 shares of the company’s stock, valued at approximately $48,000.

Several other institutional investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft purchased a new stake in Stitch Fix in the second quarter valued at approximately $46,000. SG Americas Securities LLC increased its position in Stitch Fix by 92.3% during the second quarter. SG Americas Securities LLC now owns 19,780 shares of the company’s stock worth $82,000 after buying an additional 9,494 shares during the period. CWM LLC increased its stake in Stitch Fix by 132.5% in the second quarter. CWM LLC now owns 11,867 shares of the company’s stock valued at $49,000 after purchasing an additional 6,762 shares during the period. Plato Investment Management Ltd lifted its position in Stitch Fix by 138.6% during the 1st quarter. Plato Investment Management Ltd now owns 27,807 shares of the company’s stock worth $73,000 after acquiring an additional 16,155 shares during the period. Finally, Maple Rock Capital Partners Inc. acquired a new position in Stitch Fix in the 1st quarter valued at $8,994,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Stock Performance

Shares of NASDAQ SFIX traded up $0.04 during midday trading on Wednesday, reaching $3.69. The company’s stock had a trading volume of 113,712 shares, compared to its average volume of 1,764,617. The business’s 50 day moving average price is $4.05 and its two-hundred day moving average price is $3.15. The company has a market cap of $451.44 million, a P/E ratio of -3.58 and a beta of 1.97. Stitch Fix, Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $5.05.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Tuesday, June 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The business had revenue of $322.73 million for the quarter, compared to analyst estimates of $305.93 million. Stitch Fix had a negative net margin of 8.68% and a negative return on equity of 41.40%. Sell-side analysts forecast that Stitch Fix, Inc. will post -0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SFIX has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on Stitch Fix from $3.50 to $4.50 and gave the stock a “hold” rating in a research report on Thursday, June 27th. Mizuho increased their price target on Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a research note on Monday, June 10th. Telsey Advisory Group restated a “market perform” rating and set a $4.00 price objective on shares of Stitch Fix in a report on Thursday, May 30th. UBS Group increased their price target on Stitch Fix from $2.80 to $3.80 and gave the company a “neutral” rating in a report on Monday, July 8th. Finally, Truist Financial increased their price target on Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat.com, Stitch Fix presently has a consensus rating of “Hold” and an average price target of $3.45.

Insider Transactions at Stitch Fix

In related news, CEO Matt Baer sold 44,230 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.00, for a total transaction of $221,150.00. Following the sale, the chief executive officer now directly owns 973,769 shares in the company, valued at approximately $4,868,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Stitch Fix news, CEO Matt Baer sold 44,230 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $5.00, for a total value of $221,150.00. Following the sale, the chief executive officer now owns 973,769 shares of the company’s stock, valued at approximately $4,868,845. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sarah Barkema sold 30,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $3.74, for a total transaction of $112,200.00. Following the completion of the sale, the chief accounting officer now directly owns 108,535 shares of the company’s stock, valued at $405,920.90. The disclosure for this sale can be found here. Insiders sold a total of 656,663 shares of company stock valued at $3,213,892 over the last three months. Corporate insiders own 25.90% of the company’s stock.

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.