Stitch Fix, Inc. (NASDAQ:SFIX) Shares Bought by Trexquant Investment LP

Posted by on Mar 13th, 2023

Trexquant Investment LP boosted its position in shares of Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating) by 178.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 389,090 shares of the company’s stock after acquiring an additional 249,469 shares during the quarter. Trexquant Investment LP owned about 0.35% of Stitch Fix worth $1,537,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SFIX. Federated Hermes Inc. lifted its position in Stitch Fix by 212.1% during the 1st quarter. Federated Hermes Inc. now owns 1,825,064 shares of the company’s stock worth $18,378,000 after acquiring an additional 1,240,320 shares during the period. Renaissance Technologies LLC increased its stake in Stitch Fix by 59.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,697,576 shares of the company’s stock worth $13,326,000 after buying an additional 1,005,176 shares in the last quarter. Patient Capital Management LLC purchased a new stake in shares of Stitch Fix in the third quarter valued at approximately $2,616,000. Cubist Systematic Strategies LLC grew its position in shares of Stitch Fix by 155.1% in the second quarter. Cubist Systematic Strategies LLC now owns 1,027,859 shares of the company’s stock valued at $5,078,000 after purchasing an additional 624,973 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Stitch Fix by 45.5% in the second quarter. Goldman Sachs Group Inc. now owns 1,761,256 shares of the company’s stock valued at $8,701,000 after purchasing an additional 550,852 shares in the last quarter. Institutional investors and hedge funds own 68.38% of the company’s stock.

Stitch Fix Trading Down 4.8 %

Shares of SFIX opened at $4.75 on Monday. Stitch Fix, Inc. has a fifty-two week low of $2.63 and a fifty-two week high of $11.50. The firm has a 50-day simple moving average of $4.54 and a 200-day simple moving average of $4.23.

Stitch Fix (NASDAQ:SFIX – Get Rating) last announced its earnings results on Tuesday, March 7th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The business had revenue of $412.12 million for the quarter, compared to analyst estimates of $412.94 million. Stitch Fix had a negative return on equity of 75.22% and a negative net margin of 16.06%. Stitch Fix’s quarterly revenue was down 20.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.02) EPS. Equities research analysts predict that Stitch Fix, Inc. will post -1.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Stitch Fix from $3.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 18th. Roth Capital restated a “neutral” rating on shares of Stitch Fix in a research note on Wednesday, March 8th. Wells Fargo & Company upgraded Stitch Fix from an “underweight” rating to an “equal weight” rating and set a $4.00 price target on the stock in a research note on Friday, January 6th. Barclays decreased their price target on Stitch Fix from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 7th. Finally, JPMorgan Chase & Co. cut Stitch Fix from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 20th. Two equities research analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.34.

Stitch Fix Profile

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Stitch Fix, Inc engages in the provision of personalized shipments of apparel, shoes, and accessories. The firm also delivers personalization to clients through the pairing of data science and human judgment. The company was founded by Katrina Lake and Erin Morrison Flynn in February 2011 and is headquartered in San Francisco, CA.

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

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