Stitch Fix (NASDAQ:SFIX) Price Target Lowered to $3.50 at Canaccord Genuity Group

Stitch Fix (NASDAQ:SFIX) had its price objective dropped by analysts at Canaccord Genuity Group from $4.50 to $3.50 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 38.89% from the company’s current price.

SFIX has been the topic of several other reports. UBS Group raised their target price on Stitch Fix from $2.80 to $3.80 and gave the stock a “neutral” rating in a report on Monday, July 8th. Wedbush restated a “neutral” rating and issued a $3.00 target price on shares of Stitch Fix in a research report on Wednesday, June 5th. Mizuho lifted their price objective on Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a research report on Monday, June 10th. Telsey Advisory Group reissued a “market perform” rating and set a $4.00 target price on shares of Stitch Fix in a research note on Wednesday. Finally, Truist Financial raised 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. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.36.

Stitch Fix Stock Performance

Stitch Fix stock traded down $1.23 during midday trading on Wednesday, hitting $2.52. 7,517,803 shares of the company were exchanged, compared to its average volume of 1,762,250. The firm has a market capitalization of $308.30 million, a PE ratio of -2.47 and a beta of 1.92. Stitch Fix has a fifty-two week low of $2.06 and a fifty-two week high of $5.05. The business has a fifty day simple moving average of $3.88 and a two-hundred day simple moving average of $3.23.

Insider Buying and Selling at Stitch Fix

In other Stitch Fix news, Director Katrina Lake sold 537,007 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.01, for a total transaction of $2,690,405.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Stitch Fix news, insider Anthony Bacos sold 42,381 shares of the business’s 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katrina Lake sold 537,007 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.01, for a total value of $2,690,405.07. 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 ninety days. Insiders own 25.90% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

Institutional investors and hedge funds have recently modified their holdings of the company. Pallas Capital Advisors LLC acquired a new stake in shares of Stitch Fix in the 2nd quarter worth approximately $48,000. Lodestar Private Asset Management LLC acquired a new stake in shares of Stitch Fix in the 1st quarter worth approximately $29,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Stitch Fix in the 2nd quarter worth approximately $46,000. Victory Capital Management Inc. acquired a new stake in shares of Stitch Fix in the 4th quarter worth approximately $42,000. Finally, CWM LLC grew its holdings in shares of Stitch Fix by 132.5% in the 2nd quarter. CWM LLC now owns 11,867 shares of the company’s stock worth $49,000 after acquiring an additional 6,762 shares during the period. Institutional investors and hedge funds 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.