Spark Investment Management LLC decreased its position in Stitch Fix Inc (NASDAQ:SFIX) by 21.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 599,500 shares of the company’s stock after selling 163,584 shares during the quarter. Stitch Fix comprises about 0.8% of Spark Investment Management LLC’s holdings, making the stock its 26th largest position. Spark Investment Management LLC’s holdings in Stitch Fix were worth $16,923,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. AdvisorNet Financial Inc purchased a new stake in shares of Stitch Fix during the 4th quarter worth about $29,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Stitch Fix during the 4th quarter worth about $62,000. Victory Capital Management Inc. purchased a new stake in shares of Stitch Fix during the 1st quarter worth about $134,000. FNY Investment Advisers LLC purchased a new stake in shares of Stitch Fix during the 1st quarter worth about $141,000. Finally, Mycio Wealth Partners LLC purchased a new stake in shares of Stitch Fix during the 1st quarter worth about $256,000. 27.90% of the stock is owned by hedge funds and other institutional investors.

NASDAQ SFIX traded down $0.40 on Friday, reaching $22.89. The company had a trading volume of 27,597 shares, compared to its average volume of 1,101,357. Stitch Fix Inc has a 1 year low of $16.05 and a 1 year high of $52.44. The stock has a market cap of $2.33 billion, a PE ratio of 59.03, a P/E/G ratio of 4.98 and a beta of 3.10.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Monday, March 11th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.07. Stitch Fix had a return on equity of 15.47% and a net margin of 3.67%. The company had revenue of $370.28 million for the quarter, compared to analyst estimates of $365.28 million. Equities analysts anticipate that Stitch Fix Inc will post 0.22 EPS for the current fiscal year.

A number of equities analysts have weighed in on SFIX shares. Stifel Nicolaus upped their price target on Stitch Fix from $28.00 to $34.00 in a report on Wednesday, March 13th. Zacks Investment Research upgraded Stitch Fix from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Thursday, March 14th. SunTrust Banks upped their price target on Stitch Fix to $43.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. TheStreet cut Stitch Fix from a “c-” rating to a “d+” rating in a report on Monday, May 6th. Finally, Barclays upped their price target on Stitch Fix to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 13th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $37.00.

In related news, CEO Katrina Lake sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $25.87, for a total transaction of $2,587,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Steven M. Spurlock sold 510,588 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $32.05, for a total value of $16,364,345.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,209,102 shares of company stock worth $36,409,400. 56.97% of the stock is currently owned by corporate insiders.

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About Stitch Fix

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: Strangles

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

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