Stitch Fix’s (SFIX) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Stitch Fix (NASDAQ:SFIX) in a report issued on Wednesday, Benzinga reports. The brokerage currently has a $4.00 price objective on the stock.

SFIX has been the subject of several other research reports. Truist Financial increased their price objective on Stitch Fix from $3.50 to $4.00 and gave the stock a hold rating in a report on Wednesday, June 5th. Wedbush reiterated a neutral rating and issued a $3.00 price target on shares of Stitch Fix in a report on Wednesday, June 5th. Canaccord Genuity Group boosted their price objective on shares of Stitch Fix from $3.50 to $4.50 and gave the company a hold rating in a research report on Thursday, June 27th. UBS Group raised their target price on shares of Stitch Fix from $2.80 to $3.80 and gave the stock a neutral rating in a research report on Monday, July 8th. Finally, Mizuho boosted their price target on shares of Stitch Fix from $2.00 to $3.00 and gave the company an underperform rating in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $3.36.

Stitch Fix Trading Down 39.5 %

SFIX stock opened at $2.27 on Wednesday. The firm’s 50-day moving average price is $3.83 and its two-hundred day moving average price is $3.23. The stock has a market capitalization of $277.71 million, a price-to-earnings ratio of -2.23 and a beta of 1.92. Stitch Fix has a 12-month low of $2.06 and a 12-month high of $5.05.

Insider Buying and Selling

In other Stitch Fix news, CEO Matt Baer sold 44,230 shares of Stitch Fix stock in a transaction 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 transaction, the chief executive officer now owns 973,769 shares in the company, valued at $4,868,845. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Stitch Fix news, 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 sale, the chief executive officer now directly owns 973,769 shares in the company, valued at approximately $4,868,845. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anthony Bacos sold 42,381 shares of the company’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 completion of the transaction, the insider now owns 627,957 shares in the company, valued at approximately $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 in the last 90 days. Insiders own 25.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SFIX. Disciplined Growth Investors Inc. MN boosted its position in shares of 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 valued at $38,486,000 after buying an additional 2,396,920 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Stitch Fix by 11.7% in the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock worth $18,395,000 after purchasing an additional 465,900 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new stake in Stitch Fix in the 1st quarter worth approximately $8,994,000. Hodges Capital Management Inc. raised its stake 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 buying an additional 1,860,950 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Stitch Fix by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,021,885 shares of the company’s stock worth $7,218,000 after buying an additional 99,914 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

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.