Stitch Fix, Inc. (NASDAQ:SFIX) Given Average Rating of “Reduce” by Brokerages

Stitch Fix, Inc. (NASDAQ:SFIX) has earned a consensus recommendation of “Reduce” from the eleven research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $3.36.

Several brokerages have weighed in on SFIX. Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 price target on shares of Stitch Fix in a research report on Wednesday. Truist Financial raised their price objective on shares of Stitch Fix from $3.50 to $4.00 and gave the stock a “hold” rating in a research note on Wednesday, June 5th. Wedbush reissued 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 cut their price objective on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating for the company in a report on Wednesday. Finally, UBS Group increased their target price on shares of Stitch Fix from $2.80 to $3.80 and gave the stock a “neutral” rating in a research note on Monday, July 8th.

Stitch Fix Trading Down 39.5 %

Shares of NASDAQ SFIX opened at $2.27 on Friday. The stock has a market cap 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. The company has a 50 day simple moving average of $3.83 and a two-hundred day simple moving average of $3.23.

Insider Activity at Stitch Fix

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

Institutional Trading of Stitch Fix

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pallas Capital Advisors LLC purchased a new stake in shares of Stitch Fix in the second quarter valued at about $48,000. Lodestar Private Asset Management LLC acquired a new stake in shares of Stitch Fix during the 1st quarter worth approximately $29,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Stitch Fix during the 2nd quarter valued at approximately $46,000. Victory Capital Management Inc. acquired a new position in Stitch Fix in the fourth quarter valued at approximately $42,000. Finally, CWM LLC grew its position in Stitch Fix by 132.5% in the second 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. 71.04% of the stock is owned by institutional investors and hedge funds.

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.