Stitch Fix (NASDAQ:SFIX) PT Lowered to $3.50

Stitch Fix (NASDAQ:SFIX) had its target price decreased by stock analysts at Canaccord Genuity Group from $4.50 to $3.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 38.34% from the company’s current price.

A number of other brokerages have also commented on SFIX. Telsey Advisory Group reissued a “market perform” rating and set a $4.00 price target on shares of Stitch Fix in a research note on Wednesday. Truist Financial raised their target price on shares of Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a report on Wednesday, June 5th. Wedbush reaffirmed a “neutral” rating and set a $3.00 price target on shares of Stitch Fix in a research note on Wednesday, June 5th. UBS Group lifted their price objective on shares of Stitch Fix from $2.80 to $3.80 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Finally, Mizuho boosted their target price on shares of Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.36.

Stitch Fix Stock Up 11.5 %

SFIX opened at $2.53 on Wednesday. The company has a market capitalization of $309.52 million, a PE ratio of -2.48 and a beta of 1.92. The firm has a 50-day simple moving average of $3.79 and a two-hundred day simple moving average of $3.22. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.05.

Insider Transactions at Stitch Fix

In related news, CEO Matt Baer sold 44,230 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $5.00, for a total transaction of $221,150.00. Following the transaction, the chief executive officer now directly owns 973,769 shares in the company, valued at approximately $4,868,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Matt Baer sold 44,230 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.00, for a total transaction of $221,150.00. Following the completion of the sale, the chief executive officer now directly owns 973,769 shares of the company’s stock, valued at approximately $4,868,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony Bacos sold 42,381 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $4.13, for a total value of $175,033.53. Following the completion of the transaction, the insider now directly owns 627,957 shares in the company, valued at approximately $2,593,462.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 626,663 shares of company stock worth $3,101,692. 25.90% of the stock is currently owned by insiders.

Institutional Trading of Stitch Fix

Several institutional investors and hedge funds have recently made changes to their positions in the company. Maple Rock Capital Partners Inc. bought a new position in shares of Stitch Fix during the first quarter valued at approximately $8,994,000. Disciplined Growth Investors Inc. MN lifted its holdings in Stitch Fix by 34.9% during the second quarter. Disciplined Growth Investors Inc. MN now owns 9,273,817 shares of the company’s stock worth $38,486,000 after buying an additional 2,396,920 shares during the period. Hodges Capital Management Inc. boosted its position in Stitch Fix by 286.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock valued at $10,421,000 after acquiring an additional 1,860,950 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Stitch Fix by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after acquiring an additional 465,900 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of Stitch Fix by 673.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 516,782 shares of the company’s stock worth $1,364,000 after acquiring an additional 449,948 shares in the last quarter. 71.04% of the stock is currently owned by institutional investors.

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.