Stitch Fix (NASDAQ:SFIX) Earns Market Perform Rating from Telsey Advisory Group

Stitch Fix (NASDAQ:SFIX)‘s stock had its “market perform” rating restated by research analysts at Telsey Advisory Group in a report issued on Wednesday, Benzinga reports. They currently have a $4.00 target price on the stock. Telsey Advisory Group’s target price suggests a potential upside of 64.61% from the company’s previous close.

A number of other research analysts also recently commented on SFIX. Truist Financial boosted their target price on Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a research note on Wednesday, June 5th. UBS Group boosted their price target on Stitch Fix from $2.80 to $3.80 and gave the company a “neutral” rating in a research note on Monday, July 8th. Wedbush restated a “neutral” rating and set a $3.00 price target on shares of Stitch Fix in a report on Wednesday, June 5th. Canaccord Genuity Group increased their target price on shares of Stitch Fix from $3.50 to $4.50 and gave the stock a “hold” rating in a research report on Thursday, June 27th. Finally, Mizuho boosted their price target on Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a research report on Monday, June 10th. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.45.

Stitch Fix Trading Down 35.2 %

SFIX stock traded down $1.32 during midday trading on Wednesday, reaching $2.43. The company had a trading volume of 3,679,291 shares, compared to its average volume of 1,741,501. The company has a 50 day moving average of $3.88 and a two-hundred day moving average of $3.23. Stitch Fix has a 1 year low of $2.06 and a 1 year high of $5.05. The company has a market capitalization of $297.29 million, a P/E ratio of -2.38 and a beta of 1.92.

Insider Activity at Stitch Fix

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

Hedge Funds Weigh In On Stitch Fix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lodestar Private Asset Management LLC acquired a new position in Stitch Fix during the first quarter worth $29,000. Victory Capital Management Inc. acquired a new stake in shares of Stitch Fix during the 4th quarter worth about $42,000. Baader Bank Aktiengesellschaft bought a new position in Stitch Fix during the 2nd quarter valued at about $46,000. Pallas Capital Advisors LLC bought a new position in Stitch Fix during the 2nd quarter valued at about $48,000. Finally, CWM LLC boosted its position in 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 buying an additional 6,762 shares in the last quarter. Institutional investors own 71.04% 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.