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

Stitch Fix (NASDAQ:SFIX) had its price objective trimmed by Canaccord Genuity Group from $4.50 to $3.50 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities research analysts also recently commented on the stock. Truist Financial upped their price target on shares of Stitch Fix from $3.50 to $4.00 and gave the company a hold rating in a research report on Wednesday, June 5th. UBS Group increased their target price on Stitch Fix from $2.80 to $3.80 and gave the company a neutral rating in a report on Monday, July 8th. Telsey Advisory Group reiterated a market perform rating and set a $4.00 price target on shares of Stitch Fix in a report on Wednesday. Wedbush reissued a neutral rating and issued a $3.00 price objective on shares of Stitch Fix in a research note on Wednesday, June 5th. Finally, Mizuho raised 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. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $3.36.

Stitch Fix Trading Up 12.3 %

Shares of SFIX opened at $2.84 on Wednesday. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $5.05. The stock has a market capitalization of $347.45 million, a P/E ratio of -2.78 and a beta of 1.92. The business’s 50-day moving average price is $3.76 and its 200 day moving average price is $3.23.

Insider Buying and Selling at Stitch Fix

In related news, CEO Matt Baer sold 44,230 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 973,769 shares in the company, valued at $4,868,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Matt Baer sold 44,230 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.00, for a total value 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 filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $2,690,405.07. The disclosure for this sale can be found here. Insiders sold 626,663 shares of company stock worth $3,101,692 over the last ninety days. 25.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SFIX. Cubist Systematic Strategies LLC bought a new position in Stitch Fix in the 2nd quarter worth approximately $99,000. Disciplined Growth Investors Inc. MN increased its position in 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 worth $38,486,000 after acquiring an additional 2,396,920 shares during the period. Algert Global LLC bought a new position in Stitch Fix during the second quarter worth $290,000. Susquehanna Fundamental Investments LLC raised its stake in Stitch Fix by 56.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 153,360 shares of the company’s stock valued at $636,000 after purchasing an additional 55,290 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Stitch Fix in the 2nd quarter valued at $81,000. 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.