Traders Purchase High Volume of Stitch Fix Put Options (NASDAQ:SFIX)

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Stitch Fix Inc (NASDAQ:SFIX) was the recipient of some unusual options trading on Monday. Traders acquired 22,818 put options on the company. This is an increase of 1,051% compared to the typical daily volume of 1,983 put options.

In other Stitch Fix news, CEO Katrina Lake sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $20.98, for a total transaction of $2,098,000.00. Also, major shareholder J William Gurley bought 1,612 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were purchased at an average price of $87.25 per share, for a total transaction of $140,647.00. Over the last ninety days, insiders have sold 311,667 shares of company stock worth $6,933,640. Insiders own 47.52% of the company’s stock.

Several institutional investors have recently modified their holdings of SFIX. Baillie Gifford & Co. lifted its position in shares of Stitch Fix by 23.3% in the second quarter. Baillie Gifford & Co. now owns 4,488,246 shares of the company’s stock worth $143,580,000 after buying an additional 849,117 shares in the last quarter. BlackRock Inc. increased its stake in Stitch Fix by 562.1% in the 2nd quarter. BlackRock Inc. now owns 2,605,848 shares of the company’s stock worth $83,361,000 after acquiring an additional 2,212,289 shares during the last quarter. Steadfast Capital Management LP increased its stake in Stitch Fix by 16.3% in the 2nd quarter. Steadfast Capital Management LP now owns 2,234,029 shares of the company’s stock worth $71,467,000 after acquiring an additional 313,296 shares during the last quarter. State Street Corp increased its stake in Stitch Fix by 7.2% in the 3rd quarter. State Street Corp now owns 1,028,967 shares of the company’s stock worth $19,808,000 after acquiring an additional 69,428 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Stitch Fix by 34.9% during the 2nd quarter. Brown Advisory Inc. now owns 880,947 shares of the company’s stock worth $28,182,000 after acquiring an additional 227,919 shares in the last quarter. Hedge funds and other institutional investors own 41.77% of the company’s stock.

A number of analysts have recently issued reports on the stock. KeyCorp reduced their price objective on shares of Stitch Fix from $40.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on shares of Stitch Fix from $43.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Stifel Nicolaus dropped their target price on shares of Stitch Fix from $35.00 to $28.00 and set a “buy” rating for the company in a report on Friday, September 27th. Telsey Advisory Group initiated coverage on Stitch Fix in a report on Friday, October 18th. They set an “outperform” rating and a $29.00 price target on the stock. Finally, SunTrust Banks lowered their price objective on Stitch Fix from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.00.

SFIX opened at $25.02 on Tuesday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 69.50, a PEG ratio of 39.45 and a beta of 3.31. The company has a fifty day moving average of $23.11 and a 200 day moving average of $23.84. Stitch Fix has a fifty-two week low of $16.05 and a fifty-two week high of $37.72.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $432.10 million for the quarter, compared to the consensus estimate of $432.44 million. Stitch Fix had a net margin of 2.34% and a return on equity of 10.11%. Stitch Fix’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. On average, analysts anticipate that Stitch Fix will post 0.03 earnings per share for the current year.

Stitch Fix Company Profile

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.

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