Stitch Fix (NASDAQ:SFIX) Price Target Cut to $2.80

Stitch Fix (NASDAQ:SFIX) had its target price lowered by equities researchers at UBS Group from $3.80 to $2.80 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 2.19% from the company’s previous close.

A number of other research analysts have also commented on SFIX. Canaccord Genuity Group dropped their price objective on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating on the stock in a research note on Wednesday, September 25th. Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.27.

Stitch Fix Price Performance

Shares of SFIX opened at $2.74 on Friday. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $5.05. The stock has a market cap of $347.54 million, a PE ratio of -2.54 and a beta of 1.90. The firm has a fifty day moving average price of $3.40 and a 200 day moving average price of $3.26.

Insider Transactions at Stitch Fix

In other news, CEO Matt Baer sold 44,230 shares of the business’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 $4,868,845. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Stitch Fix news, Director Katrina Lake sold 537,007 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $5.01, for a total transaction of $2,690,405.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matt Baer sold 44,230 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $5.00, for a total transaction of $221,150.00. Following the transaction, the chief executive officer now owns 973,769 shares in the company, valued at $4,868,845. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 584,282 shares of company stock worth $2,926,658 over the last ninety days. 25.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its position in Stitch Fix by 32.1% during the third quarter. Creative Planning now owns 25,477 shares of the company’s stock worth $72,000 after buying an additional 6,194 shares during the period. CWM LLC lifted its holdings in shares of Stitch Fix by 112.1% in the third quarter. CWM LLC now owns 25,175 shares of the company’s stock valued at $71,000 after purchasing an additional 13,308 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Stitch Fix in the second quarter valued at about $99,000. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Stitch Fix by 34.9% in 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 purchasing an additional 2,396,920 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Stitch Fix in the second quarter valued at about $290,000. 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.