Brokerages Set Stitch Fix, Inc. (NASDAQ:SFIX) Target Price at $3.45

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been given an average recommendation of “Reduce” by the eleven ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.45.

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Stitch Fix from $2.80 to $3.80 and gave the company a “neutral” rating in a research report on Monday, July 8th. Truist Financial upped their target price on Stitch Fix from $3.50 to $4.00 and gave the stock a “hold” rating in a research note on Wednesday, June 5th. Wedbush reiterated a “neutral” rating and set a $3.00 price target on shares of Stitch Fix in a research report on Wednesday, June 5th. Canaccord Genuity Group boosted their price target on Stitch Fix from $3.50 to $4.50 and gave the company a “hold” rating in a report on Thursday, June 27th. Finally, Mizuho raised their price objective on shares of Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a research note on Monday, June 10th.

Stitch Fix Stock Performance

Shares of SFIX stock opened at $3.79 on Friday. Stitch Fix has a fifty-two week low of $2.06 and a fifty-two week high of $5.05. The firm has a market capitalization of $463.67 million, a PE ratio of -3.72 and a beta of 1.92. The stock’s 50-day simple moving average is $3.90 and its 200-day simple moving average is $3.23.

Insider Transactions at Stitch Fix

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

Institutional Investors Weigh In On Stitch Fix

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in Stitch Fix by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,451 shares of the company’s stock valued at $223,000 after acquiring an additional 5,404 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Stitch Fix by 7.7% in the second quarter. Federated Hermes Inc. now owns 94,624 shares of the company’s stock valued at $393,000 after purchasing an additional 6,739 shares in the last quarter. CWM LLC grew its position in shares of Stitch Fix by 132.5% in the second quarter. CWM LLC now owns 11,867 shares of the company’s stock valued at $49,000 after purchasing an additional 6,762 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Stitch Fix by 92.3% in the second quarter. SG Americas Securities LLC now owns 19,780 shares of the company’s stock valued at $82,000 after purchasing an additional 9,494 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Stitch Fix by 6.2% during the first quarter. Russell Investments Group Ltd. now owns 182,833 shares of the company’s stock worth $483,000 after buying an additional 10,698 shares in the last quarter. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Company Profile

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.