Potrero Capital Research LLC Lowers Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Potrero Capital Research LLC lessened its position in Stitch Fix, Inc. (NASDAQ:SFIX) by 71.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 928,235 shares of the company’s stock after selling 2,280,698 shares during the quarter. Stitch Fix makes up about 1.3% of Potrero Capital Research LLC’s investment portfolio, making the stock its 17th largest holding. Potrero Capital Research LLC owned about 0.73% of Stitch Fix worth $4,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SFIX. SBI Securities Co. Ltd. purchased a new position in shares of Stitch Fix in the 4th quarter valued at approximately $29,000. Pallas Capital Advisors LLC purchased a new position in Stitch Fix during the fourth quarter valued at $46,000. Bellecapital International Ltd. purchased a new position in Stitch Fix during the fourth quarter valued at $55,000. Savant Capital LLC purchased a new position in Stitch Fix during the fourth quarter valued at $79,000. Finally, Polymer Capital Management US LLC purchased a new position in Stitch Fix during the fourth quarter valued at $82,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Stitch Fix Trading Down 0.2%

Stitch Fix stock opened at $4.43 on Thursday. The firm has a market cap of $570.57 million, a price-to-earnings ratio of -5.34 and a beta of 2.00. The stock has a fifty day simple moving average of $3.39 and a two-hundred day simple moving average of $4.10. Stitch Fix, Inc. has a 12 month low of $2.18 and a 12 month high of $6.99.

Stitch Fix (NASDAQ:SFIX) last posted its earnings results on Tuesday, March 11th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The business had revenue of $312.11 million during the quarter, compared to analyst estimates of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS. On average, equities research analysts forecast that Stitch Fix, Inc. will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stitch Fix news, insider Casey O’connor sold 50,000 shares of Stitch Fix stock in a transaction on Monday, April 14th. The stock was sold at an average price of $3.04, for a total value of $152,000.00. Following the completion of the sale, the insider now owns 575,755 shares of the company’s stock, valued at approximately $1,750,295.20. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.95% of the company’s stock.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reiterated a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, Stitch Fix has an average rating of “Hold” and a consensus target price of $4.50.

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.