Balyasny Asset Management L.P. Raises Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Balyasny Asset Management L.P. increased its holdings in Stitch Fix, Inc. (NASDAQ:SFIX) by 240.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,073 shares of the company’s stock after purchasing an additional 91,127 shares during the quarter. Balyasny Asset Management L.P. owned 0.10% of Stitch Fix worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Ieq Capital LLC purchased a new position in Stitch Fix in the 4th quarter worth $299,000. Susquehanna Fundamental Investments LLC purchased a new position in Stitch Fix in the 4th quarter worth $661,000. Geode Capital Management LLC raised its position in Stitch Fix by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,459,014 shares of the company’s stock worth $10,601,000 after purchasing an additional 164,089 shares during the period. JPMorgan Chase & Co. raised its position in Stitch Fix by 72.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company’s stock worth $455,000 after purchasing an additional 67,892 shares during the period. Finally, Vanguard Group Inc. raised its position in Stitch Fix by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 6,469,114 shares of the company’s stock worth $27,882,000 after purchasing an additional 457,568 shares during the period. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 target price on shares of Stitch Fix in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, Stitch Fix currently has an average rating of “Hold” and an average target price of $4.50.

Stitch Fix Stock Down 4.3%

Shares of Stitch Fix stock opened at $4.24 on Friday. The firm has a market cap of $546.10 million, a PE ratio of -5.11 and a beta of 2.00. Stitch Fix, Inc. has a 12-month low of $2.18 and a 12-month high of $6.99. The company’s fifty day simple moving average is $3.39 and its two-hundred day simple moving average is $4.11.

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

Insiders Place Their Bets

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